Friday, February 13, 2009

Former Illinois Credit Union Employee Sentenced For $1.1 Million Embezzlement

Lisa A. Farel, 40, of Cherry Valley, Illinois, was sentenced recently to 43 months in prison for embezzling some $1.1 million from the Rock Valley Federal Credit Union where she had been employed as a card services coordinator, over a 15 year period. Farel incrementally inflated the balances on 73 dormant credit cards and siphoned off the difference beginning in 1993 until last year, according to the criminal complaint. Farel reportedly confessed to the thefts and claimed she spent all of the money over the 15 year period, but could not account for it.

Read the story here, here, here and here.

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