NEW CASTLE, Penn. – The president of the defunct Lawrence County School Employees FCU was charged last week with stealing almost $225,000 from the now defunct credit union.
Holly Cowan allegedly stole $223,000 from the credit union between Jan. 1, 2004, and October 2009.
The federal charges follow a civil suit filed in November by CUMIS Insurance against Cowan and the credit union’s assistant manager Stacey Attisano claiming the two embezzled more than $900,000 from the tiny New Castle, Penn., credit union by crediting their accounts with fictitious deposits and phony payments against their personal loans.
The alleged fraud sunk the $2.6 million credit union, which was liquidated by NCUA in March 2010 and its remnants were acquired by First Choice FCU.
