X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW ORLEANS — In a case distinctly similar to one that took place in the wake of the September 11 attacks, the U.S. Attorney for Eastern Louisiana has indicted nine members of the $308 million ASI FCU for stealing almost $90,000 in the wake of Hurricane Katrina.

The nine members of the community development credit union are alleged to have used debit cards to make point of sale transactions or ATM withdrawals that were far in excess of their balances in the days after Hurricane Katrina. The transactions generally began in late August and ran into the fall, according to the nine indictments, which a federal grand jury handed down on August 11. The transactions were also made all over the country, representing the different locales where Katrina evacuees ended up.

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
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.