AMES, Iowa–The former branch manager of a credit union here has been charged with fraud and felony theft for allegedly stealing hundreds of thousands of dollars.
Henry Hill, 35, formerly with Greater Iowa Credit Union, was arrested by police and allegedly admitted to stealing more than $431,000 over seven years, according to the Des Moines Register.
“Investigators say Hill came forward and admitted to the crimes last September when he learned a new compliance officer planned to conduct cash counts at all Greater Iowa Credit Union Branches,” the Register reported.
Hill is scheduled to appear in court this week.
“The full details of the investigation identified one member account with an incorrect balance besides vault balances,” said CEO Scott Zahnle said in a statement. “Working directly with our member, the account balance was immediately restored. We continue to participate in the investigation of the theft with the Ames Police Department and have made every effort to ensure this does not happen in the future.”