President At State College FCU Charged With Felony For Giving Herself Extra Pay
STATE COLLEGE, Penn. – The former manager of State College FCU was charged Wednesday with embezzling more than $67,000 by paying herself extra.
Without the authorization of the credit union’s board of directors, Anne Martin gave herself a 14% pay raise in 2005, a 17% increase in 2005 and 5% increases in 2007 and 2008, resulting in more than $58,000 of extra pay through her tenure, according to the complaint. Martin also took about $8,700 worth of extra vacation during that time, according to court records.
Martin, 42, also used the $13 million credit union to give herself loans in excess of the approved limit set by the board, kept her daughter on the company’s health care policy without paying the premium and used the company’s petty cash and credit card for personal expenses.
Martin was arrested March 21 and charged with five counts of theft by deception, three counts of theft by unlawful taking, five counts of receiving stolen property and one count of access device fraud.