Power Financial CU IT Analyst Sold $228,000 Of Equipment For His Own Account

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PEMBROKE PINES, Fla. – A former systems analyst with Power Financial CU was barred from the credit union industry for a scheme to steal an estimated $228,000 of the credit union’s IT equipment and keeping the proceeds.

Ramon Quiroz, who joined the credit union, then known as FPL FCU, in 1999 as a temporary scanning clerk, eventually was promoted to a systems analyst in its IT department, which manages the storage of customer transactions. He was the sole point of contact for ordering electronic media supplies from two vendors, according to an order issued yesterday by the Florida Office of Financial Regulation.

Quiroz ordered supplies from those two companies using credit union funds, falsified the signatures of his managers on invoices, and took the supplies to sell so he could pocket the proceeds, according to the order.

Power Financial grew suspicious of the invoices and conducted a systematic review in September 2010. The credit union determined that Quiroz was responsible and he was fired in October.

 

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