Patricia Piscioneri, a former credit union manager, may face upto 30 years in federal prison, after pleading guilty to embezzling$156,571 from the former Adams Municipal Employees Federal CreditUnion in Adams, Mass.
|Piscioneri, 67, pleaded guilty to a 30-count indictment Jan. 17before U.S. District Judge Michael A. Ponsor in Boston.
|From December 2001 to May 2005, Piscioneri embezzled creditunion funds by creating fraudulent loan accounts in the names ofcredit union members and deposited that money into her ownaccounts, her husband's accounts, or other family members'accounts, according to federal prosecutors.
|She also used the embezzled funds to pay off previously obtainedfraudulent loans. In an attempt to avoid detection, Piscionericreated fraudulent loan documentation, such as loan applicationsand promissory notes, and forged signatures on the fraudulent loandocumentation.
|Additionally, Piscioneri created false entries in the AMEFCUaccounting system and advanced the payment due dates of thefraudulent loans, federal prosecutors said.
|Sentencing is scheduled for April 25. In addition toimprisonment, Piscioneri may be fined up to $1 million.
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