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Credit Union Was a 'Den of Thieves': Honolulu FBI

FBI agent tells CU Times he's never seen a case where three employees independently stole from the same institution without collusion.

By Missy Baxter | Updated on August 27, 2014
FBI Agent Tom SimonA FBI special agent who spent seven months investigating wrongdoing at Oahu Transit Services Employees Federal Credit Union said this week the $12.5 million cooperative was once a den of thieves.

FBI Special Agent Tom Simon, shown at left, also said the recent discovery of a $500,000 embezzlement by three employees was an expensive lesson for credit union officials about the importance of maintaining strong internal controls and oversight from an engaged board.

“In 20 years in law enforcement, I have never seen a case where three individuals working shoulder to shoulder were each embezzling from the same organization without the others knowing that they were stealing,” Simon told CU Times. “It really was a proverbial den of thieves.”

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