© 2020 Arizent. All rights reserved.
Log In
Subscribe

CEO Pleads Guilty To $1.2 Million Embezzlement

February 28, 2011, 2:18 p.m. EST 1 Min Read
Register now

 

BEAUMONT, Texas – The president of defunct Orange County Employees FCU, taken over by NCUA last June, pleaded guilty this afternoon to money laundering in connection with the theft of almost $1.2 million from the one-time $4 million credit union.
Sandra Cooper, 56, pleaded guilty to embezzling the funds over a four and half year period. The credit union had just two employees and was housed in the administration building adjacent to the Orange County courthouse.
After taking over the credit union, NCUA assigned the accounts to Sabine FCU, also located in the city of Orange.
Cooper’s conviction comes less than a week after the CEO of Center Valley FCU was sentenced to nine years in prison for stealing as much as $9 million from the Wheeling, W.V., credit union.

Sentencing has not been scheduled yet in the Cooper case.BEAUMONT, Texas – The president of defunct Orange County Employees FCU, taken over by NCUA last June, pleaded guilty this afternoon to money laundering in connection with the theft of almost $1.2 million from the one-time $4 million credit union.

Sandra Cooper, 56, pleaded guilty to embezzling the funds over a four and half year period. The credit union had just two employees and was housed in the administration building adjacent to the Orange County courthouse.

After taking over the credit union, NCUA assigned the accounts to Sabine FCU, also located in the city of Orange.

Cooper’s conviction comes less than a week after the CEO of Center Valley FCU was sentenced to nine years in prison for stealing as much as $9 million from the Wheeling, W.V., credit union.

Sentencing has not been scheduled yet in the Cooper case.

 

Reprint
For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER