SPRINGFIELD, Mass. The 67-year-old former manager at Adams Municipal Employees FCU was sentenced yesterday to a day in prison and six months home confinement for stealing $160,000 from the $1 million credit union located in City Hall.
Patricia Piscioneri pleaded guilty in federal court in Springfield into making false entries and embezzlement of funds by a credit union employee.
Piscioneri, who was the sole employee of the tiny credit union from 2001 to 2005, created fraudulent loan accounts in the names of credit union members. She then took the money from the loans and put them into accounts belonging to her, her husband, and other family members.
She tried to cover up the scheme up by forging signatures, creating false entries in the credit union’s system, setting-up fake loan documents, and advancing the payment due dates of fraudulent loans.
