ALEXANDRIA, Va. (2/1/13)--William Liddle, the former vice president of business lending at AEA FCU who was charged with taking part in a $50 million fraudulent business loan scheme, is one of nine individuals banned from future credit union work by the National Credit Union Administration.
The former AEA executive last February was convicted on 54 counts of fraud, conspiracy and money laundering in connection with accepting more than $1 million in bribes in exchange for approving business loans. The loan scheme nearly collapsed the Yuma, Ariz. credit union.
Liddle in June was sentenced to 15 years in prison, plus five years of supervised release, for his role in the scheme. The NCUA said he will also be ordered to pay $25,389,425 in restitution.
Others named in the NCUA prohibition order include:
- Former Medical Area FCU, Brookline, Mass., vice president of finance Paul Amato. Amato consented to the issuance of a prohibition order to avoid the time, cost and expense of administrative litigation;
- Former Credit Union of America, Wichita, Kan., employee Aimee Lyn Bailey. Bailey was sentenced to 24 months of probation, one year of supervised release and ordered to pay $51,773.14 in restitution following a theft conviction;
- Former Alliance Blackstone Valley FCU, Pawtucket, R.I., CEO Joseph Cicione, III, who consented to the issuance of a prohibition order to avoid the time, cost and expense of administrative litigation;
- Former Envision CU, Tallahassee, Fla., employee Raymond Cordero, who pleaded no contest to bank fraud and other related charges. He was sentenced to 45 days in prison and four years of probation, and ordered to pay $11,887 in restitution;
- Former Russell Country FCU, Great Falls, Mont., employee Kristi Lynn Hunter, who was convicted of embezzlement;
- Former SAFE FCU, Sumter, S.C., employee Teresa Johnson, who pleaded guilty to embezzlement charges. She was sentenced to 21 months in prison and five years of supervised release, and ordered to pay $241,272.90 in restitution;
- Former Clara Barton FCU, Washington, D.C., employee Tiffany Samuells, who pleaded guilty to the charge of conspiracy to commit bank fraud. She was sentenced to 15 months in prison and five years of supervised release, and ordered to pay $497,150 in restitution;
- Former East Kentucky Employees FCU, Winchester, Ky., employee Brian Tyler, who was convicted of embezzlement. He was sentenced to one year in prison and five years of supervised release, and ordered to pay $104,684.81 in restitution.
Violation of a prohibition order is a felony offense punishable by imprisonment and a fine of up to $1 million. For the full NCUA release, use the resource link.