Family Charged in Credit Disability Scheme

BAKERSFIELD, Calif. – A local businesswoman, her husband and mother were charged last week with a credit insurance fraud that took a couple of local credit unions and CUNA Mutual Group for hundreds of thousands of dollars. Authorities charged that Shawn Dodd, 40, used loans from Kern Central CU to buy sports cars, a boat and a motor home--all secured with credit disability through CUNA Mutual–then defaulted on the loans for what was a dubious back injury. Dodd also bought a truck with a loan from GMAC, which was secured by credit disability from Universal Underwriters Insurance. Her husband, James Dodd, 48, was charged with securing a $104,000 loan from Kern Schools FCU to buy another motor home based on phony loan documents. The vehicle was eventually repossessed and sold at a loss of $46,000 to the credit union. And Shawn Dodd’s mother, Barbara Bayird, was charged with fraudulently obtaining a $45,000 loan from the credit union to buy a Corvette. Shawn Dodd allegedly claimed the two were working for her company at inflated salaries to qualify for the loans. The investigation was conducted by the California Insurance Department and CUNA Mutual Group.