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A man and woman who were part of a California fraud ring used fake credit cards and conspired with another person feigning as a customer service representative to steal thousands in cash advances from credit unions and banks in nine states.
Michael Lee Thomas, 46, of Oakland (pictured at left) and Barbara John Lopp, 53, of Stockton, pleaded not guilty to conspiracy to commit bank fraud last month in U.S. District Court in Oakland.
Although the FBI began investigating the fraud ring in June 2013, it wasn’t until Feb. 12, 2015, when the couple was arrested at a branch of the $15.9 million Municipal Credit Union in Sioux City, Iowa, where their cash advance scheme drew suspicion from employees who contact police.
Iowa prosecutors charged the California couple with several felony counts of credit card fraud, forgery and identity theft, but those charges were dismissed after the federal indictment was filed on July 16.
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NCUA and Fed data also show credit unions’ share of auto loans in September has fallen from a year earlier.
The list includes six credit unions merging due to poor financial condition and two for poor management.
Twenty-four people and organizations are honored at a gala in Orlando, Fla.
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