Former CU VP Pleads Guilty to $3 Million Theft


The Credit Union Times (CUT) reported that a former credit union executive Josephine M. Crowe pleaded guilty Tuesday in a Kentucky federal court for stealing more than $3 million from the Louisville Metro Police Officer’s Credit Union that led to its liquidation last year.

The 46-year-old former vice president and loan officer of Louisville pleaded guilty to one felony count of financial institution fraud and one felony count of aggravated identity theft, according to Russell Coleman, United States Attorney for the Western District of Kentucky.

From January 2013 through November 2017, Crowe stole cash from the credit union’s vault and teller drawers. To replenish that missing cash, she took money from the credit union’s day-to-day operations by directing employees, members, and others to withdraw cash from an ATM using either a debit card that Crowe provided or the individual’s personal debit card and instructed them to return the cash to her for the credit union operating needs, according to court documents.

Click here to read the full CUT story.

source: Credit Union Times