CEO Sentenced for CU Theft

GRANTSVILLE, Utah - The former president of Grantsville FCU was sentenced to 15 months in federal prison and ordered to pay $60,000 in restitution for embezzling an estimated $120,000 from the credit union.

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Prosecutors said Linda Carson was found guilty of transferring credit union funds to her personal account and to accounts of relatives and friends.

Carson confessed to creating a phony $25,000 loan, which she increased nine times without the approval of anyone else.

Prosecutors agreed to reduce restitution from the $120,000 stolen under a plea bargain. (c) 2006 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com


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