National Credit Union Administration
Issues Prohibition Order
Alexandria, Va., September 8, 2006 - The National Credit Union Administration (NCUA) has issued an order prohibiting George Gracie from participating in the affairs of any federally insured financial institution.
George Gracie, the former financial officer of Metropolitan Credit Union, Chelsea, Massachusetts, and treasurer of the Boston Taxi Fund, pled guilty to 13 counts of mail fraud. Gracie was sentenced to 18 months in prison and two years supervised release, and he was ordered to pay $144,038 in restitution to the Boston Taxi Fund.
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.
Violation of a prohibition order is a felony offense punishable by imprisonment and a fine of up to $1 million.
The National Credit Union Administration is the independent federal agency that 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 85 million account holders in all federal credit unions and the majority of state-chartered credit unions. |
