Scales of justice sculpture outside United States Court House in Shreveport Louisiana United States Court House, Shreveport La. (Source: Adobe Stock)

Shreveport Federal Credit Union was liquidated after NCUA auditors determined its former de facto CFO allegedly embezzled more than $13 million, according to recently filed court documents in a Louisiana federal court.

During phone interviews and email conversations with CU Times, Helen Godfrey-Smith, who served as Shreveport FCU’s president/CEO for 34 years, growing it from $1.9 million to $102 million in assets, said she did not have any knowledge about what she described as a rogue CFO’s “horrible dishonesty. The CFO was fired immediately after Godfrey-Smith said she discovered the embezzlement in February/March 2017.

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Peter Strozniak

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