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Washington
NCUA prohibits five from future CU work
ALEXANDRIA, Va. (9/15/11)--Five individuals have been the subject of recent prohibition orders issued by the National Credit Union Administration (NCUA) and are thereby prohibited from participating in the affairs of any federally insured financial institution. Four of the prohibition orders followed recent crime convictions. Former Lockheed FCU, Burbank, Calif., employee Milton Callan will serve a 41 month sentence, as well as five years of supervised probation, following an embezzlement conviction. He will also pay $831,763.91 in restitution. Three theft convictions were also tied to former Lockheed FCU employees. The NCUA has reported that:
* Varoujan John Daglian will serve three years of probation and pay $751 in restitution; * Lorraine Lopez will serve three years formal probation and pay $5,808.26 in restitution; and * Victor Jackmon will serve five years of probation and pay $14,263.66 in restitution.
The NCUA also reported that Rhonda Hitt, a former employee of Fort Worth, Texas-based Fort Worth Star-Telegram Employees FCU, consented to a prohibition order and a cease-and-desist order, without admitting or denying fault. Hitt will pay $4,383.49 in restitution as part of the deal. 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.
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