SPRINGFIELD, Mass. — Mary Spruell, linked to NCUA's closing of D. Edward Wells Federal Credit Union in 2003, was sentenced to one year of home detention for accepting loan forgiveness from former credit union CEO Carol Aranjo.
Springfield's The Republican reported that Spruell, 67, pleaded guilty in July to one count of aiding and abetting embezzlement and one count of filing a false tax return and was recently sentenced to one year of home detention for accepting forgiveness from embattled Aranjo on a $114,000 loan from D. Edward Wells FCU. Additionally, Spruell must pay full restitution to NCUA, which insured member losses, within one year, file an amended tax return, and complete 200 hours of community service.
Aranjo faces an 86-count indictment to which she pleaded not guilty; a number of her family members have also been indicted. According to the indictments, Aranjo, her husband and son were accused of conspiracy to embezzle more than $1.3 million from the barely $5 million credit union.
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The Republican stated, "An outspoken community activist who regularly decries the local political establishment and abuses of power, Aranjo purchased a time-share in Mexico using the [credit union's] credit card, according to the indictment."
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