ALEXANDRIA, Va. (Feb. 28, 2014) – The National Credit Union Administration has issued four orders in February prohibiting the following individuals from participating in the affairs of any federally insured financial institution:
- Jeannette Abbott, a former employee of Malheur Federal Credit Union in Ontario, Ore., pleaded guilty to the charge of theft, embezzlement or misapplication by a credit union officer. Abbott was sentenced to four months in prison, three years of supervised release and ordered to pay restitution in the amount of $93,749.40.
- Carol Ann Ferraro, a former employee of Chaffey Federal Credit Union in Upland, Calif., pleaded guilty to embezzlement by a credit union employee. Ferraro was sentenced to 30 months in prison, five years of supervised release and ordered to pay restitution in the amount of $1,052,790.56.
- Justine Martin, a former employee of Leominster Credit Union in Leominster, Mass., admitted to facts sufficient for a finding of guilt to the charge of larceny over $250. Martin was sentenced to five years of supervised probation and ordered to pay restitution in the amount of $17,990.
- Nancy Ann Secoda, a former employee of Vons Employees Federal Credit Union in El Monte, Calif., was convicted on charges of grand theft and willfully obtaining personal information, charges to which Secoda had pleaded no contest. Secoda was sentenced to five years in prison and ordered to pay restitution in the amount of $712,253.58.
NCUA enforcement orders are available online at http://go.usa.gov/BTJV and for inspection at NCUA’s Office of General Counsel between 9 a.m. and 4 p.m. Monday through Friday. You also may order copies by mail from NCUA, 1775 Duke St., Alexandria, VA 22314-3428.
Credit unions may search prohibition and administrative orders by name, institution, city, state and year at http://go.usa.gov/gFP5. The webpage also provides links to the enforcement actions of other federal banking regulators against other institutions or their affiliated parties.
Violation of a prohibition order is a felony offense punishable by imprisonment and a fine of up to $1 million.
NCUA is the independent federal agency created by
the U.S. Congress to regulate, charter and supervise
federal credit unions. With the backing of the full
faith and credit of the United States, NCUA operates
and manages the National Credit Union Share
Insurance Fund, insuring the deposits of more than
99 million account holders in all federal credit
unions and the overwhelming majority of
state-chartered credit unions. At
Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.