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Washington
Bank fraud conviction brings NCUA prohibition order
ALEXANDRIA, Va. (8/22/11)—Former Fairwinds CU, Orlando, Fla., employee Nazreen Mohammed has been prohibited from future work at any federally insured financial institution by the National Credit Union Administration. Mohammed was recently convicted of bank fraud and aggravated identity theft, and was sentenced to 60 months in prison and a further three years of supervised probation. The former credit union employee will also pay $83,236.12 in restitution. The agency noted that violation of a prohibition order is a felony offense punishable by imprisonment and a fine of up to $1 million. The Ocala Star-Banner reported that the 47-year old Mohammed plead guilty to two counts of bank fraud and one count of identity theft last November. Mohammed used account withdrawals and loans to steal around $127,000 from living and deceased Fairwinds members between April and July of 2009, and used similar tactics to steal from Royal Bank of Canada customers later that year, the Star-Banner said. Fairwinds holds more than $1.5 billion in assets from around 143,000 members. For the full NCUA release, use the resource link.
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