A Wake Forest man has been sentenced to 48 months in prison and five years of supervised release for embezzling over $631,838 from a credit union in North Carolina.
Johnnie Earl Harrell, 49, pleaded guilty on June 24, 2020, to charges of embezzlement from a credit union. The crime occurred between 2008 and 2019, while Harrell served as the branch manager of a credit union located in Zebulon, NC.
According to court documents, Harrell exploited his position to steal and embezzle funds belonging to the credit union and its customers. The victims included retirees who Harrell convinced to rollover existing retirement accounts into annuities. However, Harrell never purchased the annuities, instead converting the victims’ funds to personal use.
Harrell prepared fraudulent annuity account statements, which were periodically presented to victims to preclude detection of the scheme.
The investigation into the case was conducted by Homeland Security Investigations, the North Carolina Department of Insurance Criminal Investigations, and the Zebulon Police Department. Assistant U.S. Attorney Toby Lathan prosecuted the case.
G. Norman Acker, III, Acting U.S. Attorney for the Eastern District of North Carolina, made the announcement after sentencing by U.S. District Judge Louise W. Flanagan.
Harrell will be ordered to pay restitution in an amount to be determined at a later date.
Related Federal Cases
- Michael Rowan, Investment Advisor Embezzlement, North Carolina 2024 · North Carolina
- James Foster, Double-Dip Embezzlement, North Carolina 2023 · Washington
- Bishop Powell, Church Property Embezzlement, North Carolina 2024 · California
- James Smith, Non-Profit Embezzlement, North Carolina 2024 · California
- Foster, $80,000 Embezzlement, North Carolina 2023 · Kansas
Key Facts
- State: North Carolina
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
ðŸâ€Â’ Get the grimiest stories delivered weekly. Subscribe free →
