GREENBELT, Md. – A former loan officer at Educational Systems Employees FCU last week was arrested and charged with bank fraud, embezzlement and identity theft as part of a scheme to steal more than $650,000 through a variety of methods from the credit union.
The 18-count indictment handed down by a federal grand jury last week claims Felicia Douglas, 40, created false checking and share accounts, loans, lines of credit, and credit card accounts in the names of at least five credit union members, using their personal identifying information without their knowledge. In addition, it is alleged she manipulated members’ existing lines of credit and credit card accounts to increase credit limits, also without their knowledge.
The grand jury charged Douglas with obtaining cashier’s checks she deposited into accounts in her name and the name of her business, “East West Management,” and to pay her credit card bills.
Douglas allegedly concealed her conduct by using a portion of the proceeds of the scheme to repay some of the loans, lines of credit, and credit card accounts from which she previously had obtained funds; by backdating transactions and changing terms.
Education Systems Employees is a $250 million credit union with offices in the Washington, D.C., suburbs of Greenbelt and Bladensburg.
