Wednesday, August 26, 2009

South Carolina Woman Sentenced In $400K Embezzlement Case

Chandra Brooks Spigner, 44, of Orangeburg, South Carolina, was sentenced to 37 months in prison yesterday for embezzling nearly $400,000 from the St. Matthews branch of CPM Federal Credit Union where she had been employed. According to investigators, Spigner's scheme lasted from August 2002 until June 2004 when she was fired after it was revealed that she stole $398,838.47 by creating fictitious loans and then withdrawing the funds. Spigner attempted to conceal her actions by making payments on some of the fraudulent loans and by manipulating the bank's books and records, according to reports.

Read the story here, here and here.

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