MADISON, Wis. – The former president of Rapids Municipal CU, merged last December into Bull’s Eye CU, has agreed to plead guilty to with manipulating the accounts of deceased members to help him steal $645,000 from the now-defunct credit union.
David Henke, 51, was charged with depositing credit union funds into members’ dormant accounts then draining the funds from those accounts, and also converting CDs held by deceased members for his own use.
Henke is expected to plead guilty toe charges at a plea hearing Oct. 21, court records indicate.
The scheme was only uncovered after the $8 million credit union, which served employees of the city of Wisconsin Rapids, Riverview Hospital, Family Heritage Nursing Home and the Wisconsin Rapids School District, was merged into $120 million Bull’s Eye CU.
