Former President of Credit Union Sentenced for Bank Fraud
September 27, 2011
Total Loss:
$140,000
A federal judge today sentenced a former credit union president to 17 months in prison for bank fraud in connection with fictitious companies whose bills were paid through the Birmingham-based credit union, announced U.S. Attorney Joyce White Vance and FBI Special Agent in Charge Patrick Maley.
U.S. District Court Judge L. Scott Coogler sentenced MICHAEL JOHN YOUNG, former president of Alabama Central Credit Union, and ordered him to pay $140,000 in restitution to the credit union. The judge also ordered Young to forfeit that same amount to the government as proceeds of illegal activity.
Source:
FBI
Posted in:
Internal Fraud
Deposit Account Fraud