HOUSTON–The former manager of a credit union has been indicted on charges of embezzlement from elderly members.
Gloria Jean Hall, 56, who was the manager of Prairie View FCU from February 2000 to August 2020, was charged in a four-count indictment by U.S. Attorney Jennifer B. Lowery.
The charges allege that Hall, beginning in 2010, embezzled approximately $211,563 from elderly account holder funds. She created loans totaling nearly $791,000, withdrew the loans and cashed $76,772 in numerous unauthorized checks from accounts at the credit union for her own personal use and benefit, according to the indictment.
Prosecutors allege Hall fraudulently formed 58 nominee loans by creating fake share loans in the names of relatives and friends. She transferred money across the loans to make payments among them, according to the charges. She also allegedly created fake monthly loan statements and moved funds mainly from elderly credit union members into the accounts of her relatives and friends.
Up to 30 Years in Prison
Hall is charged with three counts of embezzlement by a credit union employee and one count of making false entries in the financial records of the credit union.
If convicted, Hall faces up to 30 years in prison and a possible $1 million maximum fine, prosecutors said.
Prairie View FCU had existed for 85 years and was one of the oldest continually operational federal credit unions established by a historically black college and university in the United States, until its failure and merger with the Cy-Fair Federal Credit Union in early 2022.
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