Contractor Charged With Accessing CU Accounts For $1 Million Theft

Published April 09, 2009, 5:45 p.m. EDT

|

Updated August 27, 2020, 12:43 a.m. EDT

1 Min Read

OREM, Utah – A computer consultant working for First Family CU was charged yesterday with using passwords he was given by the credit union to steal $1 million from member accounts.

Processing Content

Zeldon Morris, 42, co-owner of Lee & Morris Enterprises LLC, allegedly used the passwords to access member accounts, then to create several fictitious entries to steal more than $1 million. Morris transferred the funds to his personal accounts and to the company's joint business account for his personal use, according to authorities.

Morris was employed as an outside contractor by Open Systems Solutions Inc. to provide computer systems consulting services to First Family from June 13, 2008 through mid-January.

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Core systems

Phoenix bank core relaunches as PhoenixWorx

Constellation Software subsidiary CORA Group rebranded its U.S. core banking service as regulators are looking to inspect core vendor relationships.

By Melinda Lucy
Tech Reporter

September 14
Artificial Intelligence

BofA and PNC respond to rising AI fears

Banks have embraced artificial intelligence for years. Now, after a week of dire warnings about the technology's risks, executives at two big banks are calling for caution and calm.

By Nathan Place
National Reporter

September 14
Secondary markets

IMBs need to watch HELOC securitization costs as banks enter

More depositories are getting involved in the securitized market and the competition is likely to add to expense management challenges of smaller balance loans.

By Bonnie Sinnock
Capital Markets Editor

September 14
Synchrony

Synchrony CFO: Consumers 'incredibly responsible'

Consumers' spending and payment behaviors were "holding very firm" despite inflationary pressures, Synchrony Chief Financial Officer Brian Wenzel said at the Barclays Global Financial Services Conference.

By Joey Pizzolato
Reporter

September 14
Regulation/Compliance

Sen. Warren probes private equity's bet on life insurers

Sen. Elizabeth Warren sent a request for information to the National Association of Insurance Commissioners about state regulators' efforts to address private equity ownership of life insurance companies.

By Kate Berry
Reporter

September 14
Practice and client management

How emotional hangups hinder advisor succession planning: Edward Jones

Advisors are still slow to plan for handing down their businesses, in part because of difficulties finding new owners they can trust.

By Dan Shaw
Reporter

September 14

Load More