A former employee of Antioch Community Federal Credit Union (Antioch, Calif.) was barred from any future service in a federally insured financial institution due to a May 2024 conviction of embezzlement and other charges, the National Credit Union Administration (NCUA) said in its order released Friday.
The May 22 order states that Desiree Canepa was convicted in May 2024 in Pittsburg Superior Criminal Court, Pittsburg, Calif., under the California Penal Code on three counts of Grand Theft Exceeding $950, two counts of Non-Caretaker Theft from an Elder or Dependent Adult; and one count of Embezzlement by Clerk, Agent, Servant Exceeding $950. She was sentenced to 365 days of incarceration and two years’ probation, the order states.
The NCUA on Friday also said it terminated a 2019 cease-and-desist order that was issued against Phi Beta Sigma Federal Credit Union in Washington, D.C. The 2019 order cited a broad range of issues related to, among other things, Bank Secrecy Act requirements, recordkeeping, records preservation, the supervisory and credit committees, ACH, collections, and more. The agency in Friday’s release said the credit union had fulfilled the terms and requirements of the order.
NCUA Prohibits One Individual; Terminates Cease & Desist Order In May 2025
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