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News Now

Washington
NCUA prohibits embezzler from future CU work
ALEXANDRIA, Va. (6/1/12)--Former SELCO Community CU employee Lenora Jane Colburn has been prohibited from future work at any federally insured financial institution by the National Credit Union Administration (NCUA) following her conviction on embezzlement charges.

Colburn, who recently managed a branch of the Oregon credit union and had served the credit union in various capacities since 1986, stole from the credit union to support a gambling habit, The Register-Guard reported.

The former credit union employee has been sentenced to an unspecified prison term and five years of supervised release. She will pay $146,583.64 in restitution.

SELCO has also sued Colburn, alleging breach of contract. The credit union has sought around $82,000 in damages in that suit, according to The Register-Guard.

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 access NCUA enforcement orders online.
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