MENASHA, Wis.–Mark A. Jesse, the former president of Menasha Employees CU, has been charged with stealing nearly $50,000 from the credit union.
The charges follow Jesse’s termination in 2013 for what was called “gross misconduct.”
According to the Post-Crescent, the criminal complaint states that the thefts were discovered after Community First Credit Union merged with Menasha Employees in August 2013. The Community First team discovered "numerous mismanagement issues" at Menasha Employees Credit Union and irregular movements of funds in the accounts of Jesse and his wife, the complaint states.
The Post Crescent said that a report prepared by the Community First team explained the issues and documented a total loss to the credit union of $48,875.
An investigator in August 2014 alleged that Jesse said he had financial issues due to his wife's illness and caring for two grandchildren, one of whom was living with them. He said that he had to make changes to the home to make life more comfortable for his wife.
According to the Post Crescent, Jesse estimated he was responsible for about $20,000 in lost funds and was "surprised" the sum had reached about $48,000 because he did not think he had taken that much.
Jesse is scheduled to make his first court appearance on Oct. 12.