Related Federal Cases
Former Credit Union Employee Sentenced to Prison for Embezzling Nearly $2.5 Million
DES MOINES, IA – A former credit union employee has been sentenced to prison for embezzling nearly $2.5 million from her employer.
Linda Lee Clark, 68, of Corydon, Iowa, was sentenced by United States District Court Judge Rebecca Goodgame Ebinger to 78 months in prison for embezzlement by a credit union employee, announced United States Attorney Kevin E. VanderSchel.
Clark was ordered to serve five years of supervised release following her imprisonment and to pay $2,494,809.33 in restitution.
On July 15, 2016, Clark pled guilty to a United States Attorney’s Information charging her with embezzlement by a credit union employee.
According to the information, Clark admitted to embezzling approximately $2,494,809 of funds from the SCICAP Credit Union in Chariton, Iowa, from the time she began working there as a bookkeeper in 1978 until she resigned in August 2015.
Clark redirected account holders’ deposits into her own personal account and the accounts of her children; and initiated unauthorized withdrawals of funds from member accounts into her own personal account and the accounts of her children.
Clark concealed the embezzlement by maintaining two sets of accounting records on the Credit Union’s data processing system.
As a result of Clark’s embezzlement, the Credit Union became insolvent and was forced into liquidation.
This matter was investigated by the National Credit Union Administration and the Federal Bureau of Investigation.
The case was prosecuted by the United States Attorney’s Office for the Southern District of Iowa.
Clark’s sentence marks the end of a long-running investigation into her embezzlement scheme, which has left many in the community stunned and outraged.
The SCICAP Credit Union, which was once a thriving financial institution in Chariton, Iowa, is now a shadow of its former self, forced to liquidate its assets and close its doors due to Clark’s actions.
Clark’s case serves as a stark reminder of the devastating consequences of embezzlement and the importance of holding individuals accountable for their actions.
Mandatory Facts:
Defendant/Respondent: Linda Lee Clark
Criminal Charges: Embezzlement by a credit union employee
City and State: Des Moines, Iowa
Exact Date: July 15, 2016
Sentence or Outcome: 78 months in prison
Dollar Amounts: $2,494,809.33 in restitution
Key Facts
- State: Iowa
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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