CEO Convicted Of Falsifying CU Records

Published September 22, 2013, 1:44 p.m. EDT

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Updated August 26, 2020, 10:09 p.m. EDT

1 Min Read

ELMIRA, N.Y. The former president and manager of Telco FCU last week pleaded guilty to falsifying the $22-million credit union’s books to hide vast loan delinquencies.

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Donna Harabin, 61, who now lives in Clearwater, Fla., pleaded guilty to making false credit institution entries in federal court in Rochester.

Prosecutors said Harabin changed the due dates and entered false payments to conceal from examiners the fact that 75% of the credit union’s 179 loans were delinquent. She often would change the dates of delinquency on loans she knew were going to be foreclosed upon or repossessed, according to court records.

The scheme was discovered in 2008. In 2009 the credit union was merged into Empower FCU. Harabin is scheduled to be sentenced in December.

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