CEO Sentenced To Five Years Behind Bars For $1.2 Million Embezzlement
BEAUMONT, Texas – The former president of the Orange County Employees FCU was sentenced to 63 months behind bars this afternoon for a $1.2 million embezzlement that sunk 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 in 2010.