PINEVILLE, La.–A former credit union employee has pleaded guilty to stealing nearly $250,000.
Cynthia J. Feazell, 48, entered the guilty plea before U.S. District Judge Dee Drell and admitted to authorizing fraudulent loans from Valex Federal Credit Union, where she worked as a loan officer and assistant manager from 1997 to 2016.
According to the U.S. Attorney's Office, Feazell tried to buy a mobile home in 2015, but didn't qualify for a loan. She transferred three vehicle loans from her name to her mother's so she would qualify for the loan, TheTownTalk.com reported.
Feazell also approved loans for her ex-husband, "even though she knew he did not meet the Valex credit requirements, the Attorney’s Office said. "Feazell falsified documents to accomplish the scheme and was aware her actions were fraudulent."
As a result of the scheme, the $27.5-million Valex FCU lost $243,167.95.
Feazell is scheduled to be sentenced on Dec. 17 and faces up to 30 years in prison, five years of supervised release and a fine of up to $1 million.