Two former CEOs were sentenced to prison within hours of each other in the same federal courtroom Tuesday for stealing millions from their Lynchburg, Va., credit unions.
Sixty-four-year-old Linda Sue Newcomb, the former president/CEO of the failed Lynrocten Federal Credit Union, was sentenced to 10 years in federal prison. Federal judge Norman K. Moon also ordered Newcomb to pay $11.7 million in restitution during a 2 p.m. hearing in U.S. District Court in Lynchburg.
Four hours earlier at 10 a.m. in the same courtroom, Judge Moon sentenced Claudia A. Rawes, the former president/CEO of the $9.2 million Centra Health Credit Union, to six and a half years in federal prison and ordered her to pay more than $1.9 million in restitution.
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