Theresa “Teri” Portillo, former manager of the shuttered $2 million Women's Southwest FCU, pled guilty Dec. 18to embezzlement charges in U.S. District Court in Dallas.
|The NCUA seized the last of the feminist-chartered credit unions in October2012.
|Portillo admitted to stealing $3.4 million from the Dallas-basedcredit union over a period of 11 years, from 2001 to 2012.
|According to court documents, she sold 18 credit union-ownedcertificates to other institutions and pocketed the proceeds, usingthe cash to buy real estate, jewelry and a Mexican time share inCabo San Lucas.
|Portillo, who according to a SEG website was pursuing a master's degree in criminal justice,faces a maximum 30 years in prison and $1 million fine, plusrestitution.
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.
