Friday, May 7, 2010

Missouri Woman Pleads Guilty To Embezzling Nearly $400K From Credit Union

Joyce Buchanan, 55, of Kansas City, Missouri, pleaded guilty to charges she embezzled nearly $400,000 from Media First Credit Union, now known as First Financial Credit Union, where she had been employed as a branch manager. Specifically, Buchanan plead guilty to a two count information alleging theft from a credit institution and bank fraud. The credit union serves employees of The Kansas City Star. Buchanan admitted she embezzled $198,250 from the credit union over more than a four year period, from December 9, 2002 through January 16, 2007. She also misappropriated $198,553 in fraudulent loans. She faces up to 60 years in prison, plus fines of up to $2 million and restitution.

Read the story here.

Read the DOJ announcement here.

Hat tip: Reader Joe.

Update (11/4/10): Buchanan, now 56, was sentenced to 2 years in prison yesterday.

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