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The $18.3 million Northern Piedmont Federal Credit Union in Warrenton, Va. will be the first to receive restitution payments over the NCUA’s restitution claim stemming from the Lynrocten Federal Credit Union $11.7 million fraud case, a federal judge ruled last week.

Last month, 64-year-old Linda Sue Newcomb, the former president/CEO of the failed Lynrocten FCU, was sentenced to 10 years in federal prison by U.S. District Judge Norman K. Moon in Lynchburg, Va.

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Peter Strozniak


Credit Union Times

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