Ex-CU Manager Is Banned

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Dean Mangum, the former manager of UARK CU, was banned from CUs for his role in a fraud scheme that drained almost $9 million from the $32 million Fayetteville, Ark., credit union, NCUA said. Mangum, 47, pleaded guilty to eight counts of money laundering and one count of filing a false tax return and was sentenced a year ago to 70 months in prison and ordered to pay $3 million in restitution, the amount remaining after he returned proceeds from the scheme to the credit union.

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