
The NCUA said Friday it banned three former employees who used to work at credit unions in New York, Wisconsin and Florida.
Norma Gold, 57, a former office manager of the $778,129 Olean Tile Employees Federal Credit Union in Olean, N.Y., pleaded guilty to false entries in federal credit union reports. She was sentenced last month to two and a half years in prison and was ordered to pay $179,939 in restitution. Gold attempted to hide her fraud by getting her son to impersonate an auditor who called and told NCUA examiners that he had performed an audit and verified the credit union's accounts, according to court documents. The NCUA determined that the auditor died several months earlier. The credit union was liquidated in December 2012.
Linda C. Germann, 57 of Onalaska, Wis., a former employee who worked in the accounting department at the $1.3 billion Altra Federal Credit Union, was sentenced to three years' probation last December. She pleaded guilty to stealing $14,815 from the Onalaska-based credit union and used that money to pay her gambling debts. She used various methods to steal the funds including misappropriation of stale dated cashier's checks; the creation and reimbursement of false debit card losses; the issuance of 'instant issue' automated teller machine cards (debit cards) to obtain account access; the re-issuance of stale dated gift cards, and the utilization of dormant accounts and 'bad address' accounts.
Elizabeth Nelson Cobb, a former employee of the $4 billion Space Coast Credit Union in Melbourne, Fla., pleaded guilty to the charges of theft, fraud, and communication fraud. She was sentenced to 180 days in prison, according to the NCUA.
The NCUA ban means these individuals are prohibited from participating in the affairs of any federally insured financial institution
Prohibition and administrative orders are searchable by name, institution, city, state, and year at the NCUA's Administrative Orders webpage, which also provides links to the enforcement actions of federal banking agencies against other institutions or their affiliated parties.
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