Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Former D. Edward Wells CEO convicted
SPRINGFIELD, Mass. (3/14/08)--The former CEO of the defunct D. Edward Wells CU was convicted Thursday of multiple counts of embezzlement and other charges related to the embezzlement of $1.5 million from the credit union (Boston Herald March 13). Carol Aranjo, a nationally known advocate of community development credit unions, was convicted of multiple counts of embezzlement, filing false tax returns, bank fraud, filing false entries with a federal financial institution and obstruction of a federal examiner. Her husband, Alphonso Smith, was convicted of aiding and abetting, but was acquitted of some charges, said the news report. The thefts occurred between 1997 and 2003. D. Edward Wells, a community development credit union based in Springfield, Mass., was liquidated in 2003 by the National Credit Union Administration. The jury deliberated for four days after a five-week trial. Sentencing was set for June 19. Aranjo faces up to 14 years in prison (News Now Feb. 19).


RSS





print
News Now LiveWire
.@LACULeague in @DailyComet: #creditunions' "old" benefits attractive to new generation http://t.co/AzOv3nB7IB
10 hours ago
At @FTC request, court halts operations of an alleged debt-relief scammer calling itself “FTC Credit Solutions.” http://t.co/qMsDBmKExH
16 hours ago
.@daytondailynews : The secret is out about #creditunions http://t.co/Aqu3pFTROV @DayAirCU @CODECreditUnion
16 hours ago
.@CUNA's @Nussle on @SenatorReid :(2of2)On behalf of more than 102M #CU members,I thank him 4 his leadership over the yrs/wish him the best.
18 hours ago
.@CUNA CEO Nussle on Sen. Reid’s decision not 2 seek re-election (1of2): Sen. Reid has a long history of #CU support throughout his career.
18 hours ago