Angela E. Pena, a former manager of American Nickeloid EmployeesCredit Union who admitted to inflating a home equity loan to pay agambling debt, has been banned by the NCUA from participating inthe activities of any federally insured financial institution.
|According to the The LaSalle (Illinois) News Tribune, on June 16Pena 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 ofsupervised probation, and ordered to repay the loan and reimbursethe credit union for the nearly $74,000 it paid for a fraud auditand a $5,000 deductible to a bonding company.
|American Nickeloid Employees CU is located in LaSalle, Ill., andhas assets of $10 million.
|Violation of a prohibition order is a felony offense punishableby imprisonment and a fine of up to $1 million.
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