Wednesday, September 29, 2010

Former Credit Union Exec In Western Massachusetts Pleads Guilty To Embezzling $225K

Robert W. Koss, 72, of Ludlow, Massachusetts, pleaded guilty yesterday to charges he embezzled $225,000 from the Western Massachusetts Electric Co. Credit Union which he had managed for 30 years. According to prosecutors, over a period of at least 7 years, from at least 1999 until his retirement in 2006, Koss submitted fraudulent expense reports, either inflating or inventing them. Koss pleaded guilty to embezzlement and filing a false tax return and has agreed to pay about $130,000 in restitution - he has already paid back about $80,000. Koss is scheduled to be sentenced on January 21, 2010 and faces up to 33 months in prison. Read the story here and here. Update (3/29/11): Koss was sentenced to just four years probation.

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