UPPER MORELAND, Penn.–A search warrant executed by the FBI here was used to seize a computer, USB flash drives, financial records and other documents from the home of Joan Brown here, the former manager of six credit unions that were simultaneously liquidated by NCUA last week.
The items were seized Tuesday, according to tax records as well as a property receipt filed in U.S. District Court in Philadelphia.
According to the Bucks County Courier Times, Brown, who is also known as Joni Brown, also managed the Bensalem, Penn.-based Serve Center for Credit Unions, Inc. which was named in the search warrant. Brown has not been charged with any crime.
The warrant signed Monday by U.S. Magistrate Judge Elizabeth T. Hey sought, according to the Bucks County Courier Times, "all records and documents constituting evidence of ... false statements concerning credit unions including: ... ledgers, checks, money orders, certificates of deposit and/or other documents relating to Service Center for Credit Unions Inc. (SCCU) and any credit union clients of SCCU; records of cash transactions, bank deposits, bank statements and/or other financial documents ..."
The six credit unions liquidated were:
- Cardozo Lodge Federal Credit Union of Bensalem, with $226,000 in assets.
- Chester Upland School Employees Federal Credit Union of Chester, with $827,000 in assets
- Electrical Inspectors Federal Credit Union of Bensalem, with $65,000 in assets.
- O P S EMP Federal Credit Union of Bensalem, with $1.18 million in assets.
- Servco Federal Credit Union of Bensalem, with $2.1 million in assets.
- Triangle Interests % Service Center Federal Credit Union of Bensalem, with $290,000 in assets.