NCUA bars two, including a former CUSO employee, from future service in insured FIs

Two individuals formerly associated with credit unions are prohibited from participating in the affairs of any federally insured financial institution under orders announced Friday by the federal credit union regulatory agency.

The National Credit Union Administration (NCUA) said the orders, issued in March, were for:

  • Gwendolyn Dubose, a former employee of Greater Abyssinia Federal Credit Union in Cleveland, Ohio, pleaded guilty to the charges of making false entries, identity theft, and embezzlement, the agency said. Dubose reportedly was sentenced to 64 months in prison, three years’ supervised release, and was ordered to pay $321,497.08 in restitution.
  • Carolyn LaFreniere, a former employee of SIS Insurance and Financial Services, LLC, a wholly owned credit union service organization (CUSO) of Sunmark Federal Credit Union, Latham, N.Y., pleaded guilty to the charge of petit larceny and was ordered to pay a $100 fine, the agency said.

NCUA notes that violation of a prohibition order is a felony offense punishable by imprisonment and a fine of up to $1 million.

NCUA Issues Prohibition Notices

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