The National Credit Union Administration has issued its prohibition orders for May, barring two individuals from being involved with federally insured institutions.
Sherry Ann Allen, a former employee of Johnson City, Tenn.-based Greater Eastern Federal Credit, pleaded guilty to theft and tax evasion charges. Allen received a 51-month prison sentence, three years’ supervised release and was mandated to pay $1.2 million in restitution, according to a Friday press release from NCUA.
Jihan Michelle Davis, a former branch manager at Rochester, N.Y.-based Lexington Avenue Federal Credit Union, consented to her prohibition order and will comply with its terms. The NCUA said the agreement resolves its claims against her. Davis falsified records and "converted credit union funds for her own use," according to the consent order.
Violating a prohibition order is a felony offense that is punishable by imprisonment and can also run up a fine of up to $1 million.
