A New York grand jury indicted former credit union COO Suzanne Silva Wednesday for allegedly embezzling more than $465,000 spent on Caribbean cruises, travel to Cancun and thousands of dollars a month on Amazon and Etsy.
Silva's lavish spending lasted for more than seven years while she was a supervisor and COO at the $34 million Winthrop-University Hospital Employees Federal Credit Union in Mineola.
After the indictment was unsealed yesterday, Silva, 35, of Carle Place, N.Y., was arrested, and her initial hearing was held in U.S. District Court in Central Islip, according to the U.S. Attorney's office for the eastern district of New York.
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Silva joined the credit union in 2002, became a supervisor in July 2011 and was promoted to COO in February 2017.
In March 2011, the indictment alleges that she began making unauthorized transfers from Winthrop University HEFCU accounts to her accounts and credit card accounts she maintained at other financial institutions. Silva also made unauthorized transfers from Winthrop University HEFCU accounts to accounts held by two of her relatives, according to the indictment.
Silva was fired in June 2018.
Court documents do not say how the embezzlement was discovered.
Carol Kristianson, president/CEO of Winthrop-University Hospital Employees FCU, declined to comment.
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
