TACOMA, Wash.—Renee J. Thomas, former president of Community Credit Union, was sentenced Thursday to 18 months in federal prison for embezzlement.
Thomas, 45, previously pleaded guilty to two counts of wire fraud and two counts of misapplication of credit union funds, the U.S. Attorney's Office in Seattle reported.
Federal prosecutors said Thomas used the credit union's resources to commit disability fraud, stole from customers' lines of credit and forged an employee's signature to increase the limit on her company credit card. She used the funds to pay her bills and other expenses, according to court records.
Thomas resigned from CCU in 2009 just prior to state authorities investigating the credit union. In 2010, the Tacoma-based institution merged with the $833 million TwinStar CU in Lacey, Wash.
Thomas' attorney, Keith Hall, asked the court to sentence Thomas to home confinement due to the former CEO suffering from several health issues.
However, U.S. District Court Judge Ronald Leighton sided with prosecutors, deciding Thomas should do prison time.
"This crime is very serious because it is the type of crime that corrodes faith in our financial system," Leighton said.
