ALEXANDRIA, Va.– NCUA has issued a prohibition order against a former CU manager who pleaded guilty to stealing more than a $400,000.
Prohibited from ever working again at a federally-insured financial institution was Henry M. Hill, who pleaded guilty to taking $430,866 from accounts over a seven-year period while managing a branch of Greater Iowa Credit Union.
Hill confessed to the crime before it was discovered, according to the Ames Tribune.
Hill decided to come forward after the credit union hired a new compliance officer who was going to conduct “complete cash counts of all branch location vaults in 2019,” the complaint said, as cited by the Tribune.
According to the complaint, Hill would sign off on the monthly audit sheet stating the correct number was in the vault. Although two signatures were required for the audit, he continuously “(told) a subordinate to sign the audit because he had already counted it,” the Tribune added.
Hill was sentenced to time served, given five years of supervised release, and ordered to pay restitution after being indicted in June of 2020.