LITTLE FALLS, Minn.–The former president of a credit union here has been sentenced to eight years in prison. Margurite Cofell, 62, pleaded guilty in April to one count of fraud in what prosecutors called a multi-million-dollar scheme.
According to prosecutors, from 2006 to 2014, Cofell ran the St. Francis Campus Credit Union and during that time diverted funds to herself and other members of the credit union, including family, friends and businesses.
In total, authorities said Cofell caused a loss of more than $2.5 million to the credit union, which was eventually liquidated after more than 50 years of in business.