FORT WAYNE , Ind. – The former CEO of General CU, who told authorities he manipulated loan documents to help troubled members, was sentenced Friday to two years in prison for a scheme prosecutors said drained $1.6 million form the credit union.
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David Thieme was also ordered to pay $1.6 million in restitution, on top of $928,000 he has already repaid to the credit union.
Thieme made more than 6,000 unauthorized loan transactions that took from the credit union and gave to need members “down on their luck,” he told prosecutors.
Thieme pleaded guilty to charges he misused his position to make unauthorized payments, payments to an individual credit union member, as well as fraudulent overpayments for custodial services.
