In January, 16 individuals were indicted in a $10 million federal income tax fraud scheme that was initially uncovered by the $262 million Widget Financial Federal Credit Union in Erie, Pa. last spring, according to federal prosecutors.
Widget Financial FCU uncovers $10M scheme by individuals who tried to open 3,493 accounts at 443 banks and credit unions.
Peggy Sherry’s career experience includes senior positions at the IRS and the Department of Homeland Security.
Claudia A. Rawes, manager/CEO of the $12 million Centra Health Credit Union, and two other employees were placed on administrative leave following a state and federal examination, according to a prepared statement on the credit union's website.
$12M Centra Health CU board places three staffers on leave after a joint NCUA-state exam exposes policy and procedure violations.
Two could make the accounts less flexible, but one may free insurers from nanny duty.
Most consumers and employers don't entirely understand account-based benefits. Learn the basics here.
A U.S. District Court judge in Alexandria, Va., sentenced Timothy J. Coughlin, 63, of Indianapolis to more than seven years in federal prison the week of Oct. 20 for embezzling $10 million through a fake credit union.
Timothy J. Coughlin embezzles $10 million through a bogus credit union, receives seven-year sentence.
Credit union experts agree with Lennar CEO, who says borrowers find underwriting scary and invasive.