GALVESTON, Texas – A former credit union employee has been arrested here and charged with bank fraud, theft and misapplication, and making false statements in the books and records of a financial institution. Authorities indicated that the amount of money allegedly stolen exceeded $460,000.
The U.S. Attorney’s Office for the Southern District of Texas said a federal grand jury returned a sealed indictment against Susan Margaret Garza, 60, the former manager of Electrical Workers 527 Federal Credit Union.
The indictment alleges that from 2008 through May 23, 2013, Garza made unauthorized withdrawals from members’ accounts while employed at the credit union. She also allegedly made false entries in the books and records to conceal her unauthorized withdrawals, fraudulently issued checks on the credit union’s bank account and made unauthorized loans in the names of credit union members all for the use and benefit of the herself and others, the U.S. Attorney’s Office said.
Each count of bank fraud, theft and misapplication, and false entry carries a maximum penalty of 30 years’ imprisonment and a fine up to $1 million.
The indictment also contains a notice of criminal forfeiture and seeks forfeiture of $466,675.32.