MIAMI, Ariz. – The manager of the new-defunct Marian Miami FCU was charged yesterday with embezzling $1.2 million from the credit union, which was taken over by regulators in 2006.
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Marlene Pena, 45, who ran the credit union from 2000 until its demise, was charged in a federal indictment with creating 141 phony loans and issuing the funds to family members and friends.
After the scheme was uncovered, the $8.6 million credit union was taken over and liquidated by state regulators in the fall of 2006.
The credit union was chartered in 1955 to serve Our Lady of the Blessed Sacrament Parrish in Miami, Ariz.,
