Loan Officer Issued Phony Credit In Names Of Family, Friends
WASHINGTON – A former loan officer at REA FCU, now known as Agriculture FCU, issued more than $100,000 in unsecured loans to herself, family and friends, causing the credit union losses of almost $103,000.
The loan scam was orchestrated by Senora Webster, who worked for the credit union between 2003 and 2008, according to a civil suit filed against her by CUMIS Insurance Society, which is seeking to recover the funds it paid in a bond claim filed by the credit union.
Webster approved the loans based on information she made up and forged the borrowers’ signatures, including those of her mother, her father and her sister, according to the civil suit. In some cases she issued the loans without any paperwork.
A lawyer for Webster did not return phone call seeking comment.