ALBUQUERQUE, N.M.–Louisa Gabaldon, 44, has been sentenced in federal court here to six months in prison followed by six months of home confinement for crimes committed while an employee of Belen Railroad Employees Credit Union.
In addition, Gabaldon’s term will be followed by five years of supervised release and she has also been ordered to pay $118,376.56 in restitution to the victims of her criminal conduct, according to the FBI.
Gabaldon was indicted on Aug. 7, 2013, and charged with 12 counts of bank fraud. The indictment alleged that from Jan. 2004 through July 2010, Gabaldon engaged in an illegal scheme to defraud her employer, the Belen Railroad Employees Credit Union, by making fraudulent withdrawal of funds from accounts belonging to the credit union’s customers.
On Oct. 21, 2014, Gabaldon pled guilty to Count 5 of the indictment charging her with fraudulently withdrawing $31,000.00 from a member’s account on July 31, 2006. The plea agreement, however, required that Gabaldon pay $118,376.56 in restitution to the credit union to cover the losses associated with all 12 counts in the indictment as well as related losses suffered by the credit union.
In entering her guilty plea, Gabaldon admitted that while employed by BRECU she had loan approval which permitted her—when authorized by members—to make withdrawals from members’ accounts, transfer funds among their accounts, increase the amount of their loan accounts and open new loans in their names. Gabaldon admitted that, without the knowledge or permission of members, she added amounts to customers’ existing loan accounts and opened new loans in their names and used the funds to pay for her own debts and to make a partial payment for the purchase of a home. In order to conceal her fraudulent activity, Gabaldon moved funds among members accounts to make it appear as if loans had been repaid or funds were replaced.
This case was investigated by the Albuquerque office of the FBI and was prosecuted by Assistant U.S. Attorney Sean J. Sullivan.