Sandra H. Cooper, the former president/treasurer of the Orange County (Texas) Employees FCU has been banned by the NCUA from participating in the activities of a federally insured financial institution because she pleaded guilty to embezzlement.
Cooper was sentenced to 63 months in prison and three years of supervised probation, after admitting to embezzling $1.1 million from the credit union over 4 ½ years. She was also ordered to repay the money.
She was indicted last December and sentenced in June.
The NCUA closed the credit union, which had assets of $1.7 million, in June 2010 and its assets were purchased and assumed by Sabine FCU of Orange, Texas.
Violation of a prohibition order is a felony and can be punished by imprisonment and a fine of up to $1 million.