HONOLULU - (06/24/04) -- A former assistant operationsmanager for Hawaii USA FCU was sentenced to 18 months for bankfraud Monday and ordered to make $113,000 in restitution. ZenaidaPena, 46, of Waipahu, pleaded guilty to a scheme with which shedrained the accounts of elderly credit union members she hadbefriended and made cashier's checks payable to herself and to hercreditors. Pena misappropriated about $108,000 between May 2001 andJanuary 2003. The restitution order covers the funds, withinterest, the credit union spent to reimburse themembers.
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Federal Reserve Vice Chair Philip Jefferson said in a speech Tuesday that despite positive employment readings in recent months, he remains concerned that an economic shock could still threaten the labor market.
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