SPRING VALLEY, N.Y. – The former head of the Rockland Employees FCU on Thursday was sentenced to 18 months in federal prison for stealing $150,000 from her credit union.
Cynthia Vaughan, 54, used the computer system to transfer the money from credit union accounts to herself and her family, according to prosecutors. She pleaded guilty in May to bank fraud for stealing money for personal benefit October 2000 to July 2006. She started at the credit union in 1997 as a manager.
Authorities said a 2006 audit discovered suspicious activity involving the credit union accounts involving Vaughan and members of her family. Credit union officials hired a forensic accountant to audit its books and records. The accountant found that money had been transferred to accounts held by Vaughan and her relatives.
The accountant also found there were numerous unauthorized charges on two corporate credit cards issued to Vaughan.
At least $71,200 was transferred from the credit union’s operating accounts to cover the unauthorized personal charges. The charges included Victoria’s Secret, Zales Jewelers, Air Jamaica, Natural Nail Salon and Chuck-E-Cheese.
