NCUA Bans Three in August
The NCUA issued three prohibition orders in August to individuals who pleaded guilty to fraud and embezzlement charges.
Cindy Moser, shown at left, was an employee of the $18 million Logan Medical Federal Credit Union in Logan, Utah. She pleaded guilty to theft and forgery charges. Between 2009 and 2013, Moser reportedly created fraudulent loans. The NCUA said she was sentenced to three years of probation, 90 days in prison and required to pay a $583 fine.
Donna Harabin, former president and manager of Telco Federal Credit Union in Elmira, N.Y., pleaded guilty to making false entries. Harabin admitted to concealing the fact that 75% of the credit union’s 179 loans were delinquent by changing due dates and entering false payments. She was sentenced to time served and required to pay a fine of $500. Telco has since merged into the $1.3 billion Empower Federal Credit Union in Syracuse, N.Y.
Marnett Pich, a former employee of $153 million St. Jean’s Credit Union in Lynn, Mass., pleaded guilty to embezzlement, resulting in six years of probation and $31,019.96 in restitution.
The NCUA said violating a prohibition order is a felony punishable with a prison sentence along with a fine of up to $1 million.