Charlene M. Pickhinke, a former MetaBank employee, who pledguilty in July 2009 in a case involving $4 million in stolen CDdeposits from credit unions and others, is scheduled to besentenced this month.

A bank employee for 28 years, Pickhinke admitted that from 1995to 2008 she sold more than 40 fake CDs while employed at MetaBank.She also admitted to opening two bank accounts using the names andSocial Security numbers of deceased bank customers and used theaccounts to launder funds. Pickhinke pleaded guilty to moneylaundering, wire fraud, aggravated identity theft and making falsestatements on a bank's records, according to the United StatesAttorney's Office for the Northern District of Iowa.

Guardian Angel Credit Union, Coreplus Federal Credit Union,Hamilton Federal Credit Union and East Idaho Credit Union are amongthe financial institutions that filed a lawsuit against MetaBankand Meta Financial Group.

On May 5, a court granted the $40 million Guardian Angel inBerlin, N.H. a motion to certify the class action suit, accordingto May 14 SEC documents filed by MetaBank.

The case with $193 million Coreplus FCU was voluntarilydismissed, according to SEC documents filed by MetaBank. The lastupdate involving the $27 million Hamilton Federal Credit Union inNovato, Calif. involved seeking a class action status on the case.The $233 million East Idaho Credit Union had also filed suit.