Former CEO Jailed for Embezzlement

Register now

NEW PHILADELPHIA, Pa. – The former president and CEO of Eastern CU was sentenced last week to 13 months in prison and ordered to pay $98,200 in restitution for stealing from the credit union. Dawn Smith-Wisnieski pleaded guilty to embezzling $106,000 from the $4.5 million credit union between 2003 and 2005. Smith-Wisnieski embezzled the funds by making 10 phony loans in six names. The criminal investigation resulted from her confession in her personal bankruptcy case that she embezzled the money. No member funds were compromised.

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