NCUA Bans Two Former CU Employees Because Of Crimes They Committed
Two former credit union employees who unlawfully took money from their financial institutions have been banned by the NCUA from participating in the affairs of a federally insured financial institution.
Rebecca Poe, a former employee of N&W POCA Division FCU in Bluefield, W.Va. was convicted of aiding and abetting bank fraud. Poe was sentenced to four years and three months in prison, three years supervised probation and ordered to pay restitution of $2.4 million. She was sentenced in July. Earlier this month, Poe’s former colleague Pamela Mullins was sentenced to 2 ½ years in prison and ordered to repay $2.4 million for her involvement in the case.
According to federal prosecutors, the actions of Poe and Mullins contributed to the 2008 failure of the West Virginia credit union. http://www.cutimes.com/2008/10/06/regulators-close-12th-and-13th-federally-insured-cus-this-year The NCUA liquidated N&W Poca Division FCU, which had assets of $6 million and 1,194 members, in October 2008. Lori J. Smith, a former employee of MSA Employees Federal Credit Union in Murrysville, Pa., pled guilty to theft by unlawful taking. Smith was sentenced to five years intermediate punishment with 12 months electronic home monitoring, two years supervised probation, ordered to pay restitution and join gamblers anonymous. She admitted to stealing $127,370.69 from the credit union to support her gambling addiction, according to The Pittsburgh Tribune-Review. The credit union has assets of $9 million and 1,782 members. Violations of prohibition orders are punishable by imprisonment and fines of up to $1 million.