Angela E. Pena, a former manager of American Nickeloid Employees Credit Union who admitted to inflating a home equity loan to pay a gambling debt, has been banned by the NCUA from participating in the activities of any federally insured financial institution.

According to the The LaSalle (Illinois) News Tribune, on June 16 Pena pled guilty to inflating an $86,900 home equity loan to $250,000 to pay gambling debt.

She was sentenced to 60 days in the county jail, four years of supervised probation, and ordered to repay the loan and reimburse the credit union for the nearly $74,000 it paid for a fraud audit and a $5,000 deductible to a bonding company.

American Nickeloid Employees CU is located in LaSalle, Ill., and has assets of $10 million.

Violation of a prohibition order is a felony offense punishable by imprisonment and a fine of up to $1 million.

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