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A former loan officer claimed she embezzled nearly $160,000 from 60 member accounts at a West Virginia credit union branch over three years because she was being blackmailed, according to a criminal complaint.
Kingwood Police Department investigators said Nicole K. Moore, 37, of Elk Garden, allegedly stole $157,950 from member accounts by processing cash advances on more than 80 different loans from November 2017 to September 2020. She worked as a loan officer for the Kingwood lending branch of the $273 million WEPCO Federal Credit Union based in Bloomington, Md.
In September, a member contacted the credit union to report that the balance on her account was higher than in previous months, which triggered an investigation by the credit union's compliance officer.
The compliance officer determined that the member's account showed 10 different cash advance transactions from December 2018 to August 2020. The transactions were allegedly completed by Moore, according to police investigators.
WEPCO reported these financial discrepancies to police and fired Moore, according to the criminal complaint obtained by CU Times.
During a police interview, Moore acknowledged she completed member loans over the last few years, but she could not remember how many loans or how much money she allegedly embezzled.
"When asked, Moore stated that the reason for taking the money was that she is being blackmailed by her ex-boyfriend and the father of her oldest daughter," the criminal complaint reads. The former loan officer said she deposited the funds into his account, but she did not explain why she was being blackmailed.
On Wednesday, Moore was charged with a felony count of embezzlement in Preston County Magistrate Court. She was released on bond.
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
