One of the five top officers of the $545 million Memphis Area Teachers Credit Union, fired last month in a management shakeup, has filed a whistleblower defamation suit.
Judy Bell, former senior vice president for administration, filed a complaint June 3 in a Memphis federal court alleging she was let go after alerting regulators about alleged "fraud, waste and law violations." She said she was unfairly punished and "harassed and assaulted" after she complained to state and federal regulators about the alleged violations.
The whistleblower suit, which seeks compensatory damages and salary relief charging "wrongful and retaliatory" actions by MATCU, comes as the city's largest CU seeks to reorganize its management structure following an $11 million loss in 2008. CU officials have acknowledged investment mistakes but contend the CU is in no financial danger.
CU officials were not immediately available for a response to the Bell suit.
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