Mom Jailed For Doctoring Son’sLoans

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AMARILLO, Texas - (05/30/06) – The former president and CEO ofPampa Teachers FCU was sentenced to 30 months in prison and orderedto pay $187,000 in restitution last week for changing the due dateson her son’s loans to help his struggling business. ShirleyWaller pleaded guilty to charges she entered the creditunion’s files without the consent of the board of directorsand advanced the due dates on loans made to her son Jim Sealy tofund his computer business. The loans were eventually defaulted on,leaving the credit union with a loss of $191,000. Waller conducted44 loan extensions overall.

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