Insiders Charged in $2.4 Million Scheme
Credit Union Liquidated After Alleged Crimes Two ex-employees of a failed West Virginia credit union have been indicted in a $2.4 million fraud scheme.Rebecca Poe of the former N&W Poca Division Federal Credit Union, Bluefield, WV, was charged with taking money from the credit union from 2003 to August 2008. Poe is alleged to have accomplished this by creating fake deposits into her own account and those of family members. She also is said to have written official credit union checks made payable to family members and to third parties to fund her personal expenses, according to the charges.
The N & W Poca Division FCU was placed into liquidation in October 2008. At the time it was closed, it had $6 million in assets and served 1,100 members. The National Credit Union Administration determined the credit union to be insolvent with no prospects for restoring viable operations.
The indictment, returned by a federal grand jury in Beckley, W. Va., also charges Pamela Mullins, a former co-worker who allegedly helped Poe in her fraud scheme. Mullins is named as an aider and abettor in the indictment, but not a defendant. Separate charges were brought against Mullins, alleging she engaged in similar conduct as Poe.
If convicted, each woman could receive 30 years in prison, a fine of $4.8 million and an order of restitution.
