HONOLULU— The former manager of a now-shuttered credit union on the small Hawaiian island of Molokai has been sentenced to seven years in prison after being found guilty of conspiring with another employee to steal more than $1 million–one third of its assets.
Allanie Naeole, former manager of First Hawaiian Homes Credit Union, had earlier pleaded guilty to conspiracy to embezzle credit union funds and aggravated identity theft. Naeole was one of only two employees at the credit union, the other being Janell Purdy, who was also found guilty. The theft took place from June 2008 and December 2015.
Federal prosecutor Rebecca Perlmutter said the employees' actions caused the end of the credit union, and added they believe the actual amount taken was higher but authorities were unable to recover records before 2008.
Naeole was also ordered to repay more than $1 million in restitution.
The $20.3-million First Hawaiian Homes FCU of Hoolehua, Hawaii was liquidated by NCUA in December of 2015, with the Molokai Community FCU assuming its assets and members.
At the time of liquidation and subsequent assumption by Molokai Community, First Hawaiian Homes served 1,379 members.