Sandra H. Cooper, 56, of Orange, Texas, was indicted on charges she misappropriated $1,164,360 from the Orange County Employees Federal Credit Union where she had served as president. According to authorities, over a four and a half year period, Cooper wrote checks to herself from credit union accounts in amounts generally ranging from $5,000 to $9,500 for her own benefit. Cooper was indicted on 14 counts of embezzlement by an employee of a federally insured financial institution and 7 counts of money laundering. Cooper faces up to 30 years in prison for each embezzlement charge and 10 years in prison for each money laundering charge, if convicted.
Read the story here and here.
Update (3/1/11): Cooper pleaded guilty today to money laundering charges admitting she embezzled nearly $1.2 million from the Orange County Employees Federal Credit Union over a four and a half year period.
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