NASHVILLE, Tenn. – A former worker at Nashville Post Office CU pleaded guilty yesterday to draining $481,500 from member accounts, most of them seniors, through a fraud scheme.
Patricia Taylor confessed to writing more than $414,000 worth of checks on member accounts and transferring the funds to an account she and her husband held at Bank of America.
As part of a guilty plea, Taylor admitted that from April 1999 through Aug. 2006, she embezzled funds from the accounts of members of the credit union, many of whom were retired and/or elderly.
The total loss to the credit union was approximately $481,495.09. Approximately $414,425 of these misapplied funds was used to purchase 23 cashier’s checks or bank checks payable to Bank of America in the names of Taylor and her husband.
