Embezzlement Cases Alleged at Two Wisconsin CUs

TWO RIVERS, Wis. - Embezzlement charges are expected against employees of two credit unions, Shoreline CU and Two Rivers Community CU here in unrelated crimes. According to the Two Rivers Police Department, it was contacted on Dec. 20, 2004, to investigate a theft of approximately $12,000 from Shoreline Credit Union. Through an internal review, Shoreline had determined that the loss was not an accounting error. In a joint investigation by the Two Rivers Police Department and the Wisconsin Department of Criminal Investigations, it was determined that an employee of Shoreline, a 33-year-old Reedsville woman, was found to have allegedly embezzled currency from Shoreline over a period of 18 months. The amount now confirmed as missing is more than $18,000. The case has been referred to the Manitowoc County District Attorney's office for prosecution. No charges have yet been issued. "The item was uncovered during a standard internal review," said Ken Beine, Shoreline Credit Union president and CEO. "No member accounts were impacted. The individual involved has committed to making full restitution. We want to thank the local and state authorities for their assistance in this matter." In the other case, charges of theft have been forwarded to the assistant United States attorney in Green Bay for prosecution in the federal court system in a case involving $60,133 taken from the personal accounts of members of Two Rivers Community Credit Union. In a press release, the Two Rivers Police Department noted that it had been called in January 2004 after the credit union indicated that an account holder found a significant shortage after reviewing his monthly account balance statement. In cooperation with the Green Bay office of the FBI, the police department received document subpoenas for account histories on a potential suspect and a search warrant was conducted at a home to obtain additional evidence. Through the investigation, a 36-year-old Two Rivers resident employed at Two Rivers Community Credit Union was found to have been allegedly embezzling currency. According to a police spokesman, the investigation was wrapped up last summer. However, as of Jan. 13, 2005 the case was still being reviewed and the suspect had not yet been formally charged, according to Tim Funnell, assistant U.S. attorney in Green Bay. Fran Honzik, TRCCU president, declined comment on the case.