Shawn Lee Nelson, the former vice president of lending at the $463 million Members Choice Credit Union in Houston, will be sentenced in September after pleading guilty last week to embezzling $340,309 by opening signature loan accounts in the names of three members.
Nelson admitted in U.S. District Court in Houston last week to embezzling the funds from August 2003 to September 2009 to pay for his personal expenses, according to court documents.
The fraud was uncovered in 2011, authorities said.
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