X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TRENTON, N.J. – Former president/CEO of the New Jersey Credit Union League, Thomas Shaughnessy, was indicted Sept. 2, on a charge of “theft by deception.” According to officials from the Mercer County prosecutor’s office, Shaughnessy is accused of embezzling about $275,000 between March 2002 and September 2004 from NJCUL. Shaughnessy was fired from his leadership position at the League in October 2004. The organization has since undergone an independent audit and filed a bond claim with its insurance company, CUNA Mutual Group. Shaughnessy will be scheduled for a court appearance in about a month. He is facing a possible sentence of 10 years in prison if he’s convicted of the charges. NJCUL spokesperson Sharon Dilling said the League “was not prepared to comment at this time” on policies or procedures the organization has implemented or is considering implementing to prevent a similar situation from happening again.

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?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.