DES MOINES, Iowa—Linda Lee Clark, a former bookkeeper for SCICAP CU, has admitted to embezzling nearly $2.5 million from the CU for more than 37 years.
Clark’s crime eventually led to the $2-million, Chariton, Iowa-based CU being closed by state regulators last August, the Associated Press reported. The $534-million Community 1st Credit Union of Ottumwa, Iowa, immediately assumed most of SCICAP Credit Union’s members, assets and loans.
Clark faces 30 years in prison, a $1-million fine and must pay restitution, the AP reported.
Prosecutors say the 68-year-old Clark admits she took members’ money and kept it secret by maintaining two sets of records. Sentencing is Nov. 15.