ALEXANDRIA, Va. – NCUA banned the former assistant manager of defunct N&W Poca Division FCU from the credit union industry for her role in a family fraud that drained as much as $5 million from the one-time $7-million Bluefield, W.Va., credit union.
Rebecca Poe, 36, earlier this year pleaded guilty to stealing $2.4 million by various schemes, including the creation of fictitious deposits into her account and accounts of family members. The deposits were fictitious in that no funds were received by the credit union to support the deposits.
Poe was sentenced to more than four years in prison and ordered to pay $2.4 million restitution to NCUA, which liquidated the tiny credit union in 2009.
Poe’s cousin was sentenced to prison earlier this month for her role in the scheme, which NCUA alleges in a civil suit extended to Deborah Bailey, the credit union’s CEO and Poe’s mother, as well as other family members. Neither Bailey nor the others has been charged criminally.
NCUA said it also barred Lori Smith, a former employee of MSA Employees FCU, in Murrysville, Penn., for theft from the credit union.
