Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Woman sentenced in fraud scheme at defunct CU
BLUEFIELD, W. Va. (7/25/11)--A former employee of the now-defunct N&W Poca Division FCU in Bluefield, W. Va., was sentenced Thursday to four years and three months in prison for her role in a $2.4 million fraud scheme that resulted in the credit union's liquidation. Rebecca L. Poe, 36, of Falls Mills, Va., a former employee at the credit union, also was ordered to pay restitution totaling more than $2.4 million (wvva.com July 21 and The State Journal July 21-22). The embezzlements occurred from 2003 to August 2008 when Poe allegedly created fictitious deposits into her account and the accounts of family members for personal use. The credit union received no funds to support the deposits. Also, she took funds through credit union loans and posted fictitious payments to the accounts as well as issued official checks from the credit union to herself, family members and third parties for expenses without recording the checks in the credit union's books. U.S. District Judge David A. Faber during the sentencing said her conducted substantially jeopardized the safety and soundness of the institution. The National Credit Union Administration placed the credit union into involuntary liquidation in October 2008. Another former co-worker, Pamela Mullins, 46, of Bluefield, has pleaded guilty to aiding and abetting the crime and is scheduled for sentencing on Sept. 19.


RSS





print
News Now LiveWire
Matz: Revised @TheNCUA #RBC rule for #creditunions 2 B unveiled 1/15/15, 90-day comment period to follow #newsnow http://t.co/qABhvghSTU
1 hours ago
Just announced: @TheNCUA board will consider a revised risk-based capital rule at its Jan 15 mtg. See #NewsNow Monday for more info.
3 hours ago
Nearing one-yr anniversary of data breach, @Target asks for class action suits to be dismissed via @BloombergNews http://t.co/kra6kupd35
4 hours ago
.@PeoplesTrustFCU has been recognized with the Juntos Avanzamos designation by @Cornerstone_CUL for its service to the Hispanic community
5 hours ago
#NewsNow: Rep. Hensarling names #HFSC subcommittee chairs. http://t.co/dXAMZdpn1p
5 hours ago