Search
 
News

Former CU Loan Processor & Her Boyfriend Ordered to Pay $750k in Restitution

Indira Mohabir and Phillip Cook open $3 million in unauthorized lines of credit, causing more than $1 million in losses.

Wooden judge gavel and US money dollar bills Credit/Adobe Stock

A federal judge ordered a former business loan processor and her boyfriend to pay more than $750,000 in restitution for opening nearly $3 million in unauthorized lines of credit that caused more than $1 million in losses for a California credit union.

During a federal court hearing in Los Angeles held earlier this month, U.S. District Court Judge Andre Birotte Jr. ordered Indira Mohabir and Phillip Cook to begin their sentences, which were placed on hold until issues involving restitution were resolved.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Peter Strozniak

Dig Deeper

 

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.