NEW ORLEANS – A former teller who stole more than $670,000 from inactive accounts at the McNeese FCU was sentenced Tuesday to more than four years in federal prison. Cristella Belaire, 41, of Lake Charles, was sentenced to 51 months in prison and ordered her to pay back $783,985 to the credit union for McNeese State University after she is released from prison. Belaire pleaded guilty in October to theft and embezzlement charges. Once Belaire finishes her prison term, she must pay $13,066 a month until all of the money is paid back. Authorities said Belaire targeted 16 accounts which were rarely accessed or used by the owners of the accounts, but maintained high balances. She shifted funds between the accounts to fool the auditors and NCUA during the eight-year scheme. The restitution order includes repayment of the stolen funds and interest to be paid to the credit union insurer, CUNA Mutual Group.
-
Federal Reserve Governor Michelle Bowman said she believes there is a feasible path forward for the revised capital reform proposal, emphasizing the importance of making broad changes informed by industry feedback to achieve broad consensus among Federal Reserve board members.
16m ago -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
23m ago -
-
The Office of the Attorney General in New York says the bank violated the state's Exempt Income Protection Act, illegally transferring customers' money to debt collectors.
April 17 -
The Providence, Rhode Island, company is having discussions with private wealth management teams elsewhere as it seeks to expand its fledgling private bank. In just three months, private banking deposits doubled to $2.4 billion.
April 17 -
After the Minneapolis-based company reported stubbornly high commercial deposit costs, it reduced its full-year forecast for net interest income by $200 million-$500 million.
April 17