Christine Darley, former president/CEO of the $3 millionPanhandle Cooperative Federal Credit Union was sentenced Monday totime served, five years of supervised release, which includes sixmonths of house arrest.

In September 2017, Darley pleaded guilty to bank fraud. In exchange forher guilty plea, prosecutors dropped five bank fraud charges. She admitted to improperly obtaining an$180,000 loan from the $3 million Scottsbluff. Neb.-basedcredit union.

U.S. District Court Judge John M. Gerrad in Lincoln, Neb., alsoordered Darley to pay restitution of $137,378 to CUMIS InsuranceSociety Inc. and $2,500 to Meridan Trust Federal Credit Union.

When she was indicted in February 2017, federal prosecutors saidshe allegedly embezzled more than $535,000. However, federalprosecutors acknowledged that the amount of loss and restitutionwas a contested issue.

From August 2010 to June 2012, Darley withdrew funds anddeposited the money into personal accounts she controlled at thecredit union or at First State Bank, also based in Scottsbluff.

In addition, she falsified documents to conceal her theft fromthe board of directors. The former CEO used the funds for her ownbenefit as well as for her family and friends.

In November 2013, Darley and her husband filed for Chapter 13bankruptcy in Nebraska's federal court. They listed $496,496 insecured liabilities, $70,027 in unsecured liabilities and $251,950in assets, according to court documents.

After determining PCFCU's poor financial condition, the NCUAapproved the credit union's consolidation in 2016 with the $368million Meridian Trust Credit Union in Cheyenne,Wyo.