MICHIGAN CENTER, Mich. – The former chief financial officer for Cascades Community FCU was sentenced last week to five-to-20 years in prison for embezzling $339,000 from the credit union to cover his losses in the stock market.
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"You were the fox guarding the chicken coop," state Judge John McBain told Terry Brandt, 57, during sentencing.
Brandt wired money from the credit union's general account to his personal trading accounts at least nine times between October 2006 and January 2008.
Restitution was set at $232,000 because Brandt paid back some of the funds from his pension.
