NCUA Bans Two Former Credit Union Employees for Embezzlement/Theft
Monica Jackson owes Koin CU $242,156 in restitution; Autumn Smith was ordered to pay back $18,600 to Securityplus FCU.
Two former employees who collectively stole more than $260,000 from their credit unions were banned from ever working at a federally insured financial institution, the NCUA said Monday.
Monica Jackson, an ex-operations and marketing director for the $39.4 million Koin Credit Union in Brentwood, Tenn., was sentenced to 27 months in federal prison in January 2023 after she pleaded to one felony count of embezzlement. She also was ordered to pay $242,156 in restitution and to complete three years of supervised release following her prison sentence.
She stole cash from the credit union’s vault, made unauthorized transfers from members’ accounts, including from one member who was deceased, and opened lines of credit in some of her family members’ names, increasing the maximum lines of credit on those accounts without obtaining the necessary authorization and approvals from the credit union.
To cover up her embezzlement, Jackson used the master administration access code to “lock” one of the accounts she was using so that other credit union employees could not see it, court documents showed.
According to the Federal Bureau of Prisons, Jackson was released on Sept. 4 from a minimum-security federal prison camp in Alderson, W. Va.
Autumn Samijah Smith, 23, pleaded guilty to a felony theft charge in November 2023 for stealing $18,600 when she worked at the $567 million SecurityPlus Federal Credit Union in Baltimore, Md.
On April 9, the former Securityplus mployee was sentenced to six months in prison, which was suspended, and one year of supervised release, according to Baltimore County Circuit Court records.
Smith was ordered to pay the credit union $18,600 in restitution.