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Ex-employee facing embezzlement charges

On Behalf of | Sep 23, 2022 | White Collar Crimes

A 56-year-old woman who was a manager at a credit union in another state has been indicted on four counts of alleged white-collar crimes in federal court. She was employed at the same company for approximately 20 years. Now, she is at risk of up to $1 million in fines and several decades behind bars, if convicted of embezzlement.

Investigators claim that the woman was embezzling money from the accounts of elderly people over a 10-year period. They also say the woman created fake share loans. She is accused of creating the loans in the names of various family members and friends.

Hearing scheduled to begin proceedings

Three of the four counts against the defendant are for embezzlement. The fourth count is for falsifying the financial records of the credit union. On a recent Wednesday, the woman was headed to court for her first hearing. The court will weigh the evidence, which will no doubt include mention of more than $200,000 the defendant is accused of embezzling and more than $700, 000 in illegitimate loans.

Navigating the criminal justice system

While this case is unfolding in federal court in another state, there may be people in Minnesota who are facing charges for white-collar crimes. Whether such charges result in a conviction or not, merely being accused of such crimes can damage a person’s personal and professional reputation. There are sometimes defense options available that can help mitigate circumstances, which is why it is a good idea to seek legal counsel as soon as possible after an arrest.