SPENCER, Iowa – The manager and sole employee of Eaton Employees CU was charged with stealing “hundreds of thousands of dollars” from the $3 million credit union she ran.
Linda Zech, 53, allegedly made out credit union checks and disbursed phony loans to herself, family members and to third parties, according to a federal indictment. Sometimes, the indictment charges, Zech would take funds deposited by members and use the money herself.
The court documents indicate Zech plans to plead guilty to the charges.
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