Branch Manager Increased Her HELOC Line To Feed Gambling Habit
LA SALLE, Ill. – A former branch manager at Nickleoid Employees CU on Friday pleaded guilty to embezzling tens of thousands of dollars by adding numbers to her own home equity loan to obtain an additional credit of $163,585.
Angela Pena, 50, pleaded guilty to one count of financial institution fraud, a Class 1 felony carrying a possible prison sentence of up to 15 years. In exchange for her plea, prosecutors agreed to recommend a prison sentence of no more than four years.
Pena admitted altering the loan documents and said she sought the additional funds because she has a gambling problem and needed the money to pay debts.
Pena originally was approved for an $86,900 HELOC line. She increased it to $250,000 on her own without proper authorization.