ALEXANDRIA, Va. (12/15/10)--The National Credit Union Administration (NCUA) has prohibited former D. Edward Wells FCU employee Carol Aranjo from participating in the affairs of any federally insured financial institution. Aranjo formerly served as the CEO of the Springfield, Mass.-based community development credit union which was closed by the NCUA in 2003 after recognizing $3 million in losses. NCUA examiners uncovered evidence of money laundering during a 2003 examination, which led to the closure of the credit union. Aranjo was convicted of Conspiracy, Embezzlement, False Tax Return, Bank Fraud, False Entries and Obstruction of Examination, and was sentenced to 54 months imprisonment. Aranjo earlier this year asked a federal appeals court to overturn her 2008 fraud conviction, but her challenge was ultimately unsuccessful. Aranjo will pay $1.4 million in restitution, according to the NCUA. Her husband, Alphonse Smith, was convicted on 10 charges and served one year in prison. The NCUA this week also announced that Donna Kay Gainer, a former employee of Oklahoma City, Oklahoma-based Tinker FC, would be banned from participating in the affairs of any federally insured financial institution. Gainer, who was convicted of embezzlement, will serve five years of supervised release and will pay $32,789.71 in restitution, according to the NCUA. Violation of a prohibition order is a felony offense punishable by imprisonment and a fine of up to $1 million. Use the resource link below to view NCUA enforcement orders online.