MIAMI, Ariz. – The former manager of Marian Miami FCU this week pleaded guilty to a $2.2 million loan scheme that bankrupted the one-time $10 million credit union for a local church.
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Marlene Pena, 47, who ran the credit union from 2000 until its 2006 demise, admitted she created 141 phony loans and issuing the funds to family members and friends that resulted in an embezzlement of $860,307 and a loss of more than $1.2 million to the credit union, which was shuttered by NCUA in the fall of 2006.
Pena was hired by the credit union in 1994 and was promoted to manager in 2000. The credit union was chartered in 1955 to serve Our Lady of the Blessed Sacrament Parish in Miami, Ariz.
Sentencing is scheduled for April 10.
