HOUSTON–The former VP of Houston Police FCU here has been charged with an embezzlement that has lasted for two decades, authorities are alleging.
Authorities have charged Cheryl Vickers for allegedly stealing $1,247,785 between January of 1997 and February of this year by tapping as much as $70,000 in unclaimed funds on deposit at the credit union. The scam was able to go on as long as it did because no one was making any claims on the unclaimed funds, such as a pension check that might be sent after a former police officer’s death.
Authorities allege that Vickers, who was VP over information technology and accounting, was able to use her positions to keep the theft hidden. Vickers had just retired, however, before the missing funds were discovered.
According to Houston Police FCU, a routine, random audit helped to uncover the fraud after an auditor noticed that a check that had been returned to the credit union was later sent over to Vickers, Hunt said.
Upon further investigation, the CU discovered the alleged scheme had been going on for nearly 20 years.
Members were informed via a letter in September that a fraud had been discovered, but that no active member accounts were involved.