HOUSTON – The former president of the International Longshoreman's FCU No. 24 was sentenced yesterday to 11 years in prison for pocketing more than $2 million in fake loans.
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Melinda Andrews, 53, created 110 fictitious loans for more than $7 million, according to court documents. From those fake loans she siphoned off $2.2 million for herself and family members from 2000 to 2006.
The scheme forced NCUA to shutter the tiny credit union in 2006.
Andrews was sentenced to 135 months in prison for financial institution fraud against the credit union and for tax evasion for failing to report $236,000 in stolen income in 2004.
