Saturday, April 4, 2009

Update On Texas Credit Union Embezzlment Case: McGee Sentenced To Neary 6 Years

Joanna Lynn McGee, 40, of Wichita Falls, Texas was sentenced to 71 months in prison for embezzling more than $2 million from her former employer, Texdot Wichita Falls Credit Union. McGee, who had plead guilty to embezzlement charges last November, was also ordered to pay restitution in the amount of $2.63 million. According to prosecutors, McGee set up 129 fictitious loans from which she drew down funds into her own accounts and for her own personal use. The scheme lasted 7 years, according to reports. The credit union is now defunct.

Read FraudTalk's earlier post on this story here.

Read the story here, here and here.

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