NCUA Rolls Out Multiple Orders Prohibiting Three from Service in Federally Insured Institutions

ALEXANDRIA, Va.-NCUA issued Orders of Prohibition against three former credit union board members at the end of last month. Former Treasurer of Troy Federal Credit Union (Troy, N.Y.) William G. Carey, Sr., pleaded guilty to a felony count of embezzlement and was sentenced to prison for two years. William H. Carnes, a former board member from New England Teamsters Federal Credit Union in Arlington, Mass., pleaded guilty to embezzling from an employee benefit plan and mail fraud. He received five years probation. In addition, fellow former board member George W. Cashman pleaded guilty to the same charges and received 34 months of jail time and three years probation. All three individuals are prohibited from participating in the affairs of any federally insured financial.