NEW CASTLE, Penn. – The president of the defunct Lawrence County School Employees FCU last week was charged with stealing almost $225,000 from the now defunct credit union.
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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 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. Its remnants were acquired by First Choice FCU.
