Florida A&M University FCU’s CEO Indicted On Embezzlement Charges

Register now

TALLAHASSEE, Fla. – The president of Florida A&M University FCU and a program director at the University were charged yesterday in a federal indictment alleging conspiracy to steal $134,000 of U.S. Department of Housing and Urban Development funds.

Eugene Telfair, the 57-year-old president of the $23 million credit union, and Robert Nixon, 45, director of FAMU's Institute on Urban Policy and Commerce, were charged with conspiracy, theft from an organization receiving federal funds and embezzlement of funds entrusted to a federally-insured credit union.

The indictment says Telfair and Nixon wrote one another checks and created fraudulent personal services contracts. Telfair is alleged to have created false tax documents.

An attorney for Telfair did not return a phone call seeking comment last night.

 

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER