VALDOSTA, Ga. – In a shocking case of greed and deception, former Southern Pine Credit Union President Leah Lehman, 63, of Valdosta, was sentenced to serve 72 months in prison for her role in a long-running multimillion-dollar bank loan and aggravated identity theft scheme.
According to court documents, Lehman began her scheme in June 2003, when she created a share secured loan in a SPCU account using the name and social security number of a member without that individual’s knowledge. From Feb. 2012 to May 31, 2020, Lehman paid off the loan and rebooked it multiple times with additional advances, using the proceeds to pay for personal expenses, gifts to family members, and even a boat and a hunting club share.
Co-defendant Teresa Paulo, of Valdosta, also pleaded guilty to one count of bank fraud and one count of aggravated identity theft. Paulo faces a maximum of 30 years in prison for bank fraud, and a mandatory two years in prison in addition to any other prison term imposed for aggravated identity theft, to be followed by a maximum of five years of supervised release and a $1,000,000 fine. Sentencing is scheduled for July 11.
U.S. District Judge W. Louis Sands is presiding over this case. The defendants are not eligible for parole.
“Lehman chose greed and deception, abusing her trusted leadership role to steal millions of dollars at this credit union over the course of many years,” said U.S. Attorney Peter D. Leary. “Our office, alongside our law enforcement partners, take financial crimes seriously, and we will work to hold fraudsters accountable.”
Lehman was ordered to pay $4,491,253.97 in restitution to Southern Pine Credit Union, a significant burden for the credit union and its members, who are employees of the local paper mill and their families. The case is a stark reminder of the devastating consequences of financial crimes and the importance of holding perpetrators accountable.
“This sentencing is the direct result of a diligent investigation by hardworking FBI employees and our partners at the Federal Deposit Insurance Corporation, Office of Inspector General,” said Rich Bilson, Senior Supervisory Resident Agent of FBI Atlanta’s Valdosta office. “Lehman’s greed driven scheme stole hundreds of thousands of dollars and damaged the financial security of innocent victims. They will now be held accountable for their blatant misuse of the power of their positions.”
Related Federal Cases
- Timothy G. Fisher Guilty in $179M Sham Loan Scheme · Illinois
- Cordele Woman Indicted for Stealing Identities in Tax Fraud Scheme · Georgia
- Upson Co. Woman and Sumter Co. Resident Indicted in Tax Fraud Scheme · Georgia
- Moody Faces Decades for Fake Cash Scheme · Georgia
- Georgia’s Crabtree & Donnan Hit with 85-Count Ponzi Scheme Indictment · Georgia
Key Facts
- State: Georgia
- Agency: DOJ USAO
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: Official Source ↗
🔒 Get the grimiest stories delivered weekly. Subscribe free →
Browse More
MORE FEDERAL CRIME NEWS
US NewsUS NewsUS NewsUS News