KANSAS CITY, Kan. — Mark Kasson, former CEO of the Credit Union Group, received a three month prison sentence here yesterday on a guilty plea for making false reports to the Kansas Department of Credit Unions, headed by John Smith, and the NCUA. Kasson was also fined $1,000 and an assessment of $100.
The Credit Union Group was placed into conservatorship last March when the problems with Kasson's reports about the sale of $3 million in loans to other credit unions were uncovered as false. It was a vain attempt to improve the company's financial image, said prosecutors. The conservatorship has since been lifted.
The Credit Union Group runs branches of the Free State Credit Union, two located in Lawrence and one in Lenexa.
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