BILOXI, Miss.—For the second time in a week, a long-time employee of a credit union has been charged with engaging in a long-term embezzlement.
Most recently, the former manager for the Ochsner Clinic FCU here, Jacqueline Ray, has been accused of stealing more than $1 million from 2007-2013. In all, Ray, 60, worked for the credit union for more than 30 years.
According to the U.S. Attorney, Ray allegedly stole money by creating approximately 149 fictitious loans, the proceeds of which were then deposited into accounts that Ray controlled.
While at the credit union Ray worked with her sister, Gail Teague, who earlier this year entered a guilty plea to stealing $34,000 from the credit union. Ray faces up to 10 years if convicted.
Ochsner Clinic FCU was shut down by regulators in 2013 when it had approximately 3,100 members and assets of $9.25 million.
The charges against Ray follow similar charges against Cheryl Vickers, a former VP at Houston Police FCU who has been accused of embezzling $1.2 million over a 20-year period, as CUToday.info reported here.