A Virginia judge has ruled that the NCUA can intervene in a lawsuit against three former employees of the failed $13.8 million Lynrocten Federal Credit Union.
The $20 million Northern Piedmont Federal Credit Union of Culpeper, Va., filed the lawsuit earlier this year against former Lynrocten manager Linda Susan Newcomb and Teresa Humphries and Becky Nichols, who worked at the 1,068-member cooperative in Lynchburg, Va., until May 30, 2013, when it was liquidated by the NCUA.
The lawsuit accuses the three women of loan participation fraud.
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