WASHINGTON - The former manager of the now-defunct Anacostia Naval Federal Credit Union has pleaded guilty to charges she looted about $300,000 from the Washington-based institution.
Cynthia Porter Leeson, 52, pleaded guilty to financial institution fraud. She faces a maximum sentence of 20 years in prison, $600,000 in fines, and restitution of the $300,000.
The National Credit Union Administration said Ms. Leeson made improper loans to cover up money she had taken from the institution's cash accounts and manipulated computer records to hide the activity.
The fraud lasted from early 1986 until she was caught in early 1993.