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embezzlement

Credit Union closed because its CEO had her nose in the trough.

You think we are being facetious but we aren't.

Stacey Shaw was the President and Chief Executive Officer of a credit union in a small American town, Beaver, Pennsylvania. It was called The International Brotherhood of Electrical Workers, Local Union 712, Federal Credit Union.

She systematically embezzled funds to the extent that there was so little money left it had to close.

BIScom Subsection: 
Compliance

Nun's bad habit leads to prosecution.

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Sometimes the headlines just write themselves.

Like this one.

Mary Margaret Kreuper, 79, of Los Angeles, was charged yesterday with one count of wire fraud and one count of money laundering. In a plea agreement Kreuper has pleaded guilty to the two charges that carry a maximum statutory penalty of 40 years in federal prison.

FCRO Subsection: 
Financial Crime News

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Gregg's baked goose: Aussie jury convicts Group boss for false accounting.

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Just because a CFO has his hand on the cheque book doesn't mean he can write cheques for anything he likes.

FCRO Subsection: 
Financial Crime News

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When employees go rogue

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A case in California has raised some serious questions about record keeping and staff controls at a public utility company.

CoNet Section: 
Personnel management

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Charges in one million USD credit card fraud.

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Adriana Pinnisi of California has been charged with theft from her employer by using her corporate credit card. The case raises a number of fascinating money laundering related issues.

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