A former credit union president/CEO and a former employeeadmitted they embezzled more than $1 million that led to theclosure of a Hawaiian credit union and a loss of more than $2million to NCUA's insurance fund.

Allennie Naeole, the former president/CEO of the $3.1million First Hawaiian Homes Federal Credit Union in Hoolehua, onthe island of Molokai, pleaded guilty to conspiracy to embezzlecredit union funds and aggravated identity theft, according to aplea agreement filed in U.S. District Court in Honolulu inFebruary. Janell Purdy, who worked as a customer servicerepresentative and teller, pleaded guilty to one count ofconspiracy to embezzle credit union funds.

Their sentencing hearings have not been scheduled.

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