Arizona Woman Indicted for Embezzling $1.2 Million from Credit Union

Department of Justice ^ | July 8, 2009 | United States Attorney's Office District of Arizona

[Larry381]

PHOENIX, AZ—Based on an investigation by the Federal Bureau of Investigation, a Globe woman was indicted by a federal grand jury Tuesday afternoon for allegedly embezzling approximately $1.18 million from a Gila County credit union. Marlene Aguilera Pena, 45, has been charged with 25 counts of embezzlement from the now defunct Marian Miami Federal Credit Union, of Miami, Ariz.

Pena was hired by the credit union in 1994 and became its manager in 2000. The indictment alleges that beginning in January 2001, through at least December 2006, Pena operated a scheme to defraud the credit union. The indictment goes on to allege that through her access to the credit union’s computer system, she created approximately 141 fictitious loans and fraudulently issued loan proceeds checks to her friends and family members. Pena misappropriated approximately $1.18 million, according to the indictment, a sum which caused, or contributed to, the failure of the credit union.

“Credit unions provide a financial backbone for small communities all over Arizona,” stated U.S. Attorney Diane J. Humetewa. “Allegations of theft will be thoroughly investigated and those responsible will be appropriately charged.”

FBI Special Agent in Charge Nathan Gray, Phoenix Division, stated, “When an individual holds a position of trust and violates that trust by engaging in a fraud scheme for personal gain, it lessens the public’s confidence in financial institutions. The indictment is a clear indication of the FBI’s dedication to investigate and enforce the laws protecting financial institutions and hold accountable those who violate the trust placed upon them.”

Pena has been charged with 25 felony offenses of Embezzlement by an Employee of a Lending, Credit or Financial Institution. The charged embezzlements are alleged to have occurred between July 2004 and July 2006. A conviction for each of these offenses is punishable by up to 30 years in federal prison and a fine of up to $1,000,000.

[Larry381]

Pena has been charged with 25 felony offenses of Embezzlement. A conviction for each of these offenses is punishable by up to 30 years in federal prison and a fine of up to $1,000,000-- DAMN

[zacharycole]

That credit union only had assets of $8 million. $1.18 million dollars in fictitious loans would have put their delinquency ratio through the roof. Delinquency ratios under 1% are the norm and considered acceptable--that would mean only $80,000 in impaired loans to maintain that ratio assuming they were 100% loaned out.

The Board of Directors and Supervisory Committee had to be cronies, involved or clueless in oversight of a financial institution. How she was able to get by NCUA examiners for that length of time is also troubling.

[hope]

Miami had a population of 1936 people during the last census. Most likely those numbers decreased with the local copper mining situtation. Miami is a very poor town and hasn't changed in appearance in the last hundred + years.

Most likely everyone knows everyone in this town, aka tweekerville.

[driftless2]

A co-worker and I have noticed a disproportionate amount of crimes by embezzling committed by women vs. men over the last ten years. Doing anecdotal reporting, we both noticed that practically every report we read in various papers (local and national) concerning embezzlement, a female was far more likely to be the offender than a male. At first we thought it was amusing, and then we wondered if this was some sort of national trend. It turns out it is. From the mid-nineties to about 2005, the number of female embezzlers grew forty-two percent while the male embezzling rate only grew two percent.

So it appears that embezzling might be the crime where women "outshine" men. My wife gets quite irritated with me when I mention this, and points out the fact that men still commit more and violent crimes than women. Still, give " credit" where credit is due: embezzling seems to be the female crime.

[myview2you]

Miami is not the only town known as aka Tweekerville. I moved from Globe 2 years ago because the whole area Globe, Claypool, Central Hieghts, and Miami are infested with Tweekers.