MACON, Ga. – The former president of tiny Brosnan Yard CU shot herself to death last month as police were about to arrest her for an embezzlement scheme that may have drained more than $350,000 from the credit union.
Linda Rice, 57, who was employed by $4.4 million credit union from August 1991 to Sept. 30, 2008, ran into another room and locked the door when sheriff’s deputies knocked on her door. Then she shot herself in the head, according to a press release issued by the Jones County Sheriff’s office. Rice had served as manager, loan officer and director of the credit union.
Directors of the credit union, which serves employees of Norfolk Southern railroad, asked Macon police to investigate allegations of missing funds after an internal audit uncovered irregularities. They found that Rice may have diverted more than $354,000 through a variety of schemes, including "kiting" accounts, fraudulent loans, loans to family and friends, destroyed or misplaced credit union assets, and cash and checks that were posted to customers’ accounts but not accounted for, according to her arrest warrant.
