Manager Banned For $1.8 Million Texas CU Theft
ALEXANDRIA, Va. – The former manager of Texas Public Employees Association No. 5 CU was barred from the financial services industry by NCUA today for a $1.8 million embezzlement that sunk the one-time $7 million Del Rio, Texas, credit union in 2009.
Virginia “Ginger” Anderson was convicted on theft charges and served a year behind bars and ordered to pay $1.8 million in restitution.
NCUA also banned Gary Ellis, former CEO of River Valley FCU for stealing $200,000 from the Brattleboro, Vt., credit union. Ellis served a six-month jail term for his crime.
Also banned was Kathleen Hammer, a former employee for Western Region FCU in Cleveland.