A former credit union employee has pleaded guilty to a federal bank fraud charge in New Mexico.
Louisa Gabaldon, 43, of Belen, N.M., entered the plea in U.S. District Court in Albuquerque, New Mexico.
Gabaldon was charged with 12 counts of bank fraud in an indictment filed on August 7, 2013. The indictment alleged that between January 2004 and July 2010, Gabaldon engaged in an illegal scheme to defraud her employer, the Belen Railroad Employees Credit Union.
As part of her plea agreement, Gabaldon admitted to making fraudulent withdrawals from customer accounts without their knowledge or permission. She also admitted to using the funds to pay off her own debts and to make a partial payment for the purchase of a home.
The scheme, which lasted for six years, resulted in a total loss of $118,376.56 for the credit union.
Gabaldon faces a maximum penalty of 30 years in prison at her sentencing hearing, which has yet to be scheduled. She remains on conditions of release pending her sentencing.
The case was investigated by the Albuquerque office of the FBI and is being prosecuted by Assistant U.S. Attorney Sean J. Sullivan.
As the Grimy Times continues to uncover the truth behind white-collar crime in New Mexico, we remind readers to stay vigilant and report any suspicious activity to the authorities.
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Key Facts
- State: New Mexico
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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