PARSONS, Kan.–Nearly three years after a credit union here was shuttered for alleged embezzlement there has still been no criminal indictment, even as investigators have alleged as much as $10 million could be missing from the $13-million CU.
The Parsons Sun, which first reported the story, confirmed with a spokesperson for the U.S. Attorney’s Office in Kansas that no indictments have been filed in the investigation, and that the office wouldn’t comment on whether such an indictment might be forthcoming.
The then $13-million Parsons-Pittsburg CU was liquidated in 2014, with the $418-million Golden Plains CU of Garden City, Kan., taking over the operations of the closed PPCU.
At the time of the liquidation, filings with the U.S. District Court by the Kansas Department of Credit Unions indicated the CU had become insolvent. Federal authorities searched the home of the former manager of the CU, which allegedly found two checks totaling $130,000, gold coins, silver coins, a Prada handbag, a vehicle, documents showing the purchase of U.S. savings bonds and other paperwork, the Parsons Sun reported. The manager was not identified in the press report as no criminal charges had been filed.
In 2014 NCUA interviewed a suspect over the missing funds who indicated that she and her husband had as much as $16 million in gambling losses.