Executive Pleads Guilty To CUFraud

MEMPHIS, Tenn. - (06/02/05) -- A former vice president at FederalBuilding FCU pleaded guilty Tuesday to embezzling more than$800,000 over four years from the credit union, most of which sheused to pay off credit-card bills for her and her family. ConnieMorris, 42, entered her guilty plea in federal court, eight floorsabove the credit union, where she worked as vice president ofoperations. Morris pleaded guilty to a scheme with which shecreated a corporate account for herself and transferred funds toother accounts and paid Visa bills with the money. She also createdVisa accounts for family members and transferred credit union fundsfor payments to those accounts. Morris destroyed copies oftransactions and statements to hide her scheme from otheremployees.