A former manager for the $1.6 million Enterprise Credit Union —which surrendered control to the Kansas Department of Credit Unions inAugust 2011 — has pled guilty to embezzling more than $800,000from the credit union, said U.S. Attorney Barry Grissom in a U.S.Attorney's office news release.
|Pamela Emig, 46, of Solomon, Kan., admitted to embezzling$817,167 between 2005 and 2011 while working for theEnterprise, Kan., credit union, Grissom said.
|According to Grissom, Emig kited checks between members'accounts to conceal her fraudulent activities. He said her strategyentailed making a large deposit in an account toward the end of amonth, which would be included in the general ledger but not sentto the corporate checking account until the middle of the followingmonth. At that time, he said, a larger check would be drafted froma different account.
|Authorities charged Emig with one count of embezzlement in October and set her maximum sentence at 30years in federal prison and a fine of up to $1 million. Hersentencing is scheduled for Feb. 11.
|News of Emig's conviction comes a year after the Kansas Department of Credit Unions took control of EnterpriseCU's operations, pending the results of an investigation that beganafter “accounting irregularities” were found during a routineexamination at the credit union.
|The department said the credit union would remain in operationduring the course of the investigation.
|John Smith, administrator for the Kansas Department of CreditUnions, said Thursday he could not comment on the status ofEnterprise CU at this time.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.