HUNTSVILLE, Ala.–Redstone FCU has released a statement following the arrest of 18 people who allegedly were involved in a fraud that cost the CU more than $2 million.
As CUToday.info reported here, 23 people have been charged and 18 have been arrested for alleged theft that led to the losses that the Morgan County (Ala.) Sheriff’s Office said involved alleged fraudulent account transfers through the credit union.
"The funds were then used through various means: ATM withdrawals, in-store or online purchases, and Cash App," MCSO said in a released statement. "To date, there has been a total of over $3,453,655.72 in attempted transfers with a total loss of over $2,000,397.01."
Worked Alongside Police
In its statement, Redstone FCU said, it “worked alongside the Morgan County Sheriff’s Department over the past year to identify and arrest those accused of committing fraud against the Credit Union. Similar arrests are expected in surrounding counties.
“Any Redstone member who suffered a loss resulting from these fraudulent activities were fully reimbursed by Redstone. We are committed to protecting our members’ accounts, which are insured through the National Credit Union Administration.
“We encourage members to check their accounts regularly and to use the many tools available to alert them of any unusual activity,” the statement continued.
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