WICHITA FALLS, Texas – The president of defunct Wichita Falls TexDot CU was sentenced Friday to almost six years in prison for embezzling as much as $3.2 million from the credit union, which at its height had $5.2 million in assets.
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Joanna McGee, 40, pleaded guilty last month to the theft, which sunk the 55-year-old credit union, forcing it to merge last year with nearby Postal CU.
McGee created and drew money from 129 fictitious loans.
TexDot was chartered in 1953 to serve employees of the Texas Department of Transportation.
