Former CEO Jailed for Embezzlement

January 15, 2007, 7:34 p.m. EST 1 Min Read

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.

TRENDING

Consumer banking

20 banks and thrifts with the most assets

The top five banks and thrifts have combined total assets of nearly $13 trillion.

Just now
Regulation and compliance

'Through the looking glass': Jamie Dimon sounds off on regulatory burden

The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.

By Catherine Leffert

26m ago
Litigation

If Supreme Court sides with CFPB, 'flurry' of litigation moves forward

Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.

By Kate Berry

6h ago

MORE FROM AMERICAN BANKER

Consumer banking

20 banks and thrifts with the most assets

The top five banks and thrifts have combined total assets of nearly $13 trillion.

Just now
Regulation and compliance

'Through the looking glass': Jamie Dimon sounds off on regulatory burden

The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.

By Catherine Leffert

26m ago
Litigation

If Supreme Court sides with CFPB, 'flurry' of litigation moves forward

Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.

By Kate Berry

6h ago
Politics

Democrats push back against Corporate Transparency Act ruling

Lawmakers including one of the original sponsors of the Corporate Transparency Act have filed an amicus brief in the appeal against an Alabama court ruling that the law is unconstitutional, which would throw into question Treasury's newly-established beneficial ownership structure.

By Claire Williams

7h ago
Commercial lending

'Credit darling' Webster Financial reports uptick in defaulted loans

The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.

By Allissa Kline

9h ago
Earnings

Zions, Comerica foresee turnaround on loan growth in late 2024

The two regional banks are anticipating that borrower demand will increase in the back half of the year. High interest rates and economic uncertainty have been muting the appetite for borrowing.

By Catherine Leffert

10h ago