BIRMINGHAM, Ala. – The former manager of a credit union has been charged with embezzling more than a quarter-million dollars.
A one-count “information” was filed in United States District Court against Phillip Brian Topping, 42, the former manager of New Pilgrim FCU. According to the court, Topping embezzled approximately $268,000 from an on-site ATM and from a teller cash drawer at NPFCU and used the unauthorized funds for personal expenses.
If true, the embezzlement would represent a fifth of the $1.275-million New Pilgrim FCU’s assets. On its website, the credit union is now advertising for a new manager.
The maximum penalty for embezzlement by a credit union employee is 30 years in prison and a $1,000,000 fine, according to the Northern District of Alabama.
The FBI investigated the case and received assistance from the National Credit Union Administration. Assistant United States Attorney Ryan S. Rummage is prosecuting the case.
The credit union has 567 members.
The Very Best in CU Reporting. For You. For Free. Or Your Money Back.
Don’t forget to check your Spam/Junk email folder if you haven’t been receiving your free, popular and daily CUToday.info news headlines.
And if you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time.
CUToday.info has received very positive response from readers following the move to an improved provider of the daily headlines, but many also noted they did need to go to their Spam/Junk folder and mark it as safe.
The new email solution has not only improved every reader’s delivery experience, but it also features a fresh, new format that is easy to read, especially on mobile devices.
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com.