National Credit Union Administration
Issues Prohibition Orders
October 19, 2005, Alexandria, Va. – The National Credit Union Administration (NCUA) has issued orders prohibiting each of the following individuals from participating in any manner in the affairs of federally insured financial institutions:
- Maria Martini, former assistant manager of former Regalbuto Federal Credit Union, New York, N.Y.
- Teresa Lauw, former chairman of the Board, Florida Health Systems Federal Credit Union, Miami, Florida
- Vicky Black Bolen, former chief executive officer at Raleigh County Federal Credit Union, Beckley, West Virginia.
- Elizabeth Charlene Miller, former manager of former Monteleone Hotel Employees Credit Union, New Orleans, Louisiana
ORDERS OF PROHIBITION
Maria Martini, pled guilty to a felony count of grand larceny and was sentenced to a three year conditional discharge.
Teresa Lauw, without admitting or denying fault, consented to a prohibition order to avoid the time and expense of litigation.
Vicky Black Bolen, pled guilty to the felony charge of bank embezzlement and was sentenced to serve 21 months in prison, 5 years of supervised probation upon release and ordered to pay restitution in the amount of $127,130.71.
Elizabeth Charlene Miller was convicted of the misapplication of bank funds and sentenced to serve 24 months in prison and ordered to pay $254,075.63 in restitution to CUNA Mutual and $32,610.85 to the National Credit Union Administration.
Violation of a prohibition order is a felony offense punishable by imprisonment and a fine of up to $1 million.
NCUA enforcement orders are online at http://www.ncua.gov/administrative_orders/Admin/administrative.html, and may be inspected at NCUA’s Office of General Counsel from 9 a.m. to 4 p.m. Monday through Friday. Copies may be ordered by mail from NCUA, 1775 Duke St., Alexandria, Va. 22314-3428.
The National Credit Union Administration is the independent federal agency that regulates, charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates and manages the National Credit Union Share Insurance Fund, insuring the savings of over 84 million account holders in all federal credit unions and the majority of state-chartered credit unions.
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