Wednesday, December 3, 2014

Tennessee Woman Sentenced For Embezzling $370K From Credit Union

From the Citizen-Herald on 12/2/2014:

A former employee of a local credit union who pled guilty to embezzlement in late September has been sentenced in federal court.

Latisha Cochran, 36, of Cookeville, was sentenced to serve 27 months in a minimum security facility in the case.
“She publicly apologized and said she is sorry she affected people the way she did,” her attorney, Wesley Bray, said. “She took responsibility for her actions.”
Cochran was charged with embezzlement in late July and pled guilty in September, admitting in court that she issued fradulent loans in the names of fictitious individuals while employed at Middle Tennessee Federal Credit Union. She admitted she used the funds from the fradulent loans for her own personal use and also used fradulent credit cards associated with the loans to make personal purchases.
She also admitted to taking actions to hide her embezzlement, including opening accounts in fictitious names, using ficticious addresses, fabricating loan documentation, conducting transactions outside of normal business hours, making loan payments using embezzled funds and shredding loan files.
She admitted to embezzling more than $370,000.
“She made a payment today in that restitution,” Bray said, with the total restitution being $300,000. “Her cooperation and lack of a criminal record also helped in her sentencing.”
She faced up to 30 years in prison and a fine of up to $1 million.
She is to serve 80 percent of her sentence.

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