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Former Oklahoma CU CEO Gets Probation for Embezzlement

A federal judge sentenced a former Oklahoma credit union CEO to probation Monday after claiming she made more than $500,000 in unauthorized loans to needy members, believing they would pay the money back.

U.S. District Court Judge Ronald A. White ordered Carol Lynn Been, the 28-year CEO of the merged Oklahoma State University Institute of Technology Federal Credit Union in Okmulgee, to pay restitution of $567,774. Court documents show, however, that auditors identified an additional $314,664 in loans that were questionable and will likely never be recovered.

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Peter Strozniak


Credit Union Times

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