Group Sentenced After Cashing More Than $1 Million in Counterfeit Bonds at CUs, Banks

The fraudsters use their names and SSNs on the 176 fake bonds, most of which are exchanged for cash at CUs.

By Peter Strozniak | February 09, 2024 at 04:00 PM

Seven persons who cashed 176 counterfeit U.S. Treasury bonds at two credit unions and two banks were sentenced last month and ordered to pay restitution of more than $1 million in restitution, according to the U.S. Attorney's Office in Montgomery, Ala.

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Fraud & Enforcement

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2 Credit Union's Internal Investigation Leads to Employee Grand Theft Charge

3 Man Pleads Guilty in Credit Union Fraud Ring Conspiracy

4 Boomers Are Not Enough: How to Attract Younger Consumers

5 CU Loses Nearly $300,000 in Four Hours With ATM Skimming Device

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CU on a Mission to Make Housing Affordable

By Michael Ogden | July 26, 2024

Leadership at Great Basin FCU is involved in a new initiative to make housing affordable for members in Nevada.

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Bank Shareholders Approve Proposed Acquisition by Global Credit Union

By Peter Strozniak | July 26, 2024

Although Washington state regulators gave the deal a green light, decisions from the NCUA and FDIC are pending.

Bank Shareholders Approve Proposed Acquisition by Global Credit Union

Space Coast Sells $669 Million in Auto Securities

By Jim DuPlessis | July 26, 2024

The Florida CU is the fourth-largest holder of indirect car loans, the type sold in a deal that closed Wednesday.

Space Coast Sells $669 Million in Auto Securities

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