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Former CU Accounting Manager Pleads Guilty to Embezzlement

SYRACUSE, N.Y.-Marabeth Peets, a former accounting manager for SeaComm Federal Credit Union, pleaded guilty Jan. 7 to embezzlement, the Associated Press reported. Peets, 41, admitted to embezzling over $412,913 from the credit union between 1995 and 2004. She was caught transferring funds from three internal credit union accounts to accounts...

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SYRACUSE, N.Y.-Marabeth Peets, a former accounting manager for SeaComm Federal Credit Union, pleaded guilty Jan. 7 to embezzlement, the Associated Press reported. Peets, 41, admitted to embezzling over $412,913 from the credit union between 1995 and 2004. She was caught transferring funds from three internal credit union accounts to accounts under her control and withdrew funds for personal use, U.S. Attorney Glenn Suddaby said, according to the AP. Peets agreed to make restitution to the credit union and could get up to 30 years in prison and maximum fine of $1 million. Her sentencing is slated for March 13.

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