Manager of Tiny CU Charged with Looting Member Funds

NEWARK, N.J. – The long-time manager and sole employee of tiny La Cassa FCU was charged in federal court this week with siphoning more than $200,000 from member accounts, pushing the credit union into insolvency. Gisela Rivera, 50, was charged with manipulating the books of the $500,000 credit union to hide the scheme. Rivera was the manager and sole employee of the credit union between 1987 and 2005. The 33-year-old credit union was merged into North Jersey FCU last November.

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