Former Pampa Credit Union President Sentenced to Prison Term
AMARILLO, Texas – The former president and CEO of Pampa Teachers FCU was sentenced to 30 months in prison and ordered to pay $187,000 in restitution last week for changing the due dates on her son’s loans to help his struggling business.
Shirley Waller pleaded guilty to charges she entered the credit union’s files without the consent of the board of directors and advanced the due dates on loans made to her son Jim Sealy to fund his computer business.
The loans were eventually defaulted on, leaving the credit union with a loss of $191,000. Waller conducted 44 loan extensions overall.