ALEXANDRIA, Va. — The National Credit Union Administration issued five notices of prohibition in April to individuals who have been convicted of crimes and are now banned from participating in the affairs of any federally insured financial institution.
They are:
- Melissa Ann Joiner, a former employee of $16.4 million Metro North Federal Credit Union in Jacksonville, Fla., who pled guilty to theft. Joiner was sentenced to one day in prison, five years’ probation and ordered to pay court costs.
- Schrelle L. Malone, a former employee of Pacific Marine Credit Union, a $748 million institution based in Oceanside, Calif., who pled guilty to charges of theft, identity theft and burglary. Malone was sentenced to 21 days in prison, three years’ probation and was ordered to pay $4,892.81 in restitution.
Michael J. McGrath Jr., the former CEO of U.S. Mortgage Corporation (USM) and CU National Mortgage LLC (CUN), in Pine Brook, N.J., who pled guilty to charges of conspiracy to commit mail and wire fraud, and money laundering. McGrath was sentenced to seven years in prison, three years’ supervised release and ordered to pay more than $139.6 million in restitution.
According to documents from the U.S. District Court District of New Jersey, CUN serviced and sometimes sold to the Federal National Mortgage Association (Fannie Mae), through USM, mortgage loans originated and funded by various credit unions. But neither USM nor CUN had authority to sell the credit union loans without their express permission. McGrath subsequently used proceeds from such sales to fund his own companies and investments.
Randy Gard Teall, a former employee of $396 million Global Credit Union in Spokane, Wash., who pled guilty to charges of bank fraud. He was sentenced to one year in prison, five years’ supervised release and ordered to pay restitution in an amount that has not yet been determined by the court.
According to the Federal Bureau of Investigation’s Salt Lake City division, Teall worked as a loan officer at Global CU and executed a scheme to procure loans from the CU by using false promises or statements on loans he approved to individuals with whom he had a business relationship.
Yvondia M. “Susan” Young, a former employee of Heritage Trust Federal Credit Union, a $529 million institution based in Summerville, S.C., who pled guilty to charges of bank fraud. Young was sentenced to one year in prison, five years’ supervised release and was ordered to pay $325,521.82 in restitution.
According to local South Carolina media, Young worked as manager of card services for the credit union and embezzled about $325,000 over a six-year period. Among other acts, she issued official credit union checks to make payments on her credit card bills.
