ALEXANDRIA, Va. — NCUA announced four orders of prohibition today, including one for former Nor-Car Federal Credit Union President/CEO Michael J. Symons.
Symons previously pleaded guilty to credit union fraud and filing a false tax return. He was arrested in January for putting credit union money into his own companies. He has been ordered to pay restitution of more than $1.8 million to NCUA. This situation and a separate $1.5 million fraud by Betty Jean Barachie led to the credit union's downfall in 2004.
Additionally, NCUA issued prohibition orders against:
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