Branch Manager Jailed For $475,000 Embezzlement
KANSAS CITY, Mo. – A former branch manager for Media First CU was sentenced to two years in prison Wednesday for embezzling about $475,000 from the credit union for employees of the Kansas City Star newspaper.
Joyce Buchanan, 56, pleaded guilty to theft and bank fraud in May, admitting that she stole almost $200,000 from the credit union. She also made $426,678 in improper loans to non-members of the credit union. Of those loans, more than $268,000 is in default. Most of the fraudulent loans were referrals from her son, prosecutors said.
The credit union, which also serves employees of the Miami Herald, recently was merged into Miami’s Financial FCU, which is now known as First Financial CU.