Follow-up: Insurance reimburses Pantex Federal Credit Union for $1.2M
A Borger credit union CEO said on Thursday that members were protected when an audit revealed $1.2 million had been stolen.
Pantex Federal Credit Union CEO Cliff Murley said the credit union has been reimbursed through a fraud insurance policy for the embezzled funds.
We have been made whole by that and have not been financially impacted, Murley said.
On Tuesday, Dorothy Stegall Barnes, former assistant vice president of teller operations at the credit union, pleaded guilty in federal court to stealing $826,000. Barnes took the money over a 14-year period, from September 1996 to November 2010.
Barnes was discovered in October 2014 when she was asked to audit the vault of a banker who had suddenly quit, according to court documents. Barnes later reported that the former employees vault was short $380,000. This was determined not to be a clerical error and the president then called in an auditor.
Read more: http://amarillo.com/news/latest-news/2015-10-01/insurance-reimburses-credit-union-12m
Cross-posted in Omaha Steve's Labor Group.
Earlier threads:
Banker admits to stealing $826K from Pantex Federal Credit Union Texas Group
Banker admits to stealing $826K from Pantex Federal Credit Union Omaha Steve's Labor Group