Former Pennsylvania Credit Union CEO Charged with Embezzlement
A former York County credit union CEO has been charged with embezzling more than $250,000, according to officials from the U.S. Attorney’s Office for the Middle District of Pennsylvania.
The 53-year-old woman from Red Lion was a CEO and office manager at HD York Federal Credit Union. Information from the federal officials reveals she allegedly embezzled $252,106 over the course of three years. HD York specifically served employees of Springettsbury’s Harley-Davidson plant, and the credit union merged with White Rose Credit Union in York in 2014.
The woman was also charged with tax evasion, as she failed to report more than $70,000 worth of stolen money as taxable income in 2011. She admitted to the crimes in a plea agreement in October, and will make full restitution to the credit union and the federal government. She faces a maximum of 15 years in prison, with a federal judge still to determine her actual sentence.
Embezzlement comes with stiff penalties
Embezzlement involves individuals who have been somehow entrusted with money stealing it over time for their own uses. Common examples include business executives funneling corporate funds, or financial caretakers of elderly individuals taking advantage of their position to take money for themselves.
The crime can reach felony status depending on the amount of money stolen and other circumstances surrounding the alleged crime, which could result in significant fines, jail time and lengthy probation periods upon someone’s conviction.
For further information and guidance on embezzlement charges in Pennsylvania, contact an experienced Reading criminal defense attorney at David R. Eshelman: A Professional Corporation.