Stacey Shaw, Embezzlement and Tax Evasion, Pennsylvania 2024

PITTSBURGH, PA – A brazen case of embezzlement at a Pittsburgh-based federal credit union has come to an end with the sentencing of its former President and CEO, Stacey Shaw.

According to court records, Shaw, 48, of Salem, Ohio, 44460, opened six unauthorized credit cards in her name during her tenure at the International Brotherhood of Electrical Workers, Local Union 712, Federal Credit Union.

Shaw repeatedly raised the credit limits on the cards over approximately three years, amassing a staggering total outstanding balance of $2.1 million by the time her conduct was discovered.

The loss to the credit union was so profound that it was forced to be permanently closed and liquidated.

On March 20, 2024, United States District Judge Marilyn J. Horan imposed the sentence on Shaw, which includes 51 months of imprisonment, followed by three years of supervised release, including 12 months of home detention.

Shaw was found guilty of embezzlement and willful failure to file tax returns. Her actions not only damaged the credit union but also left her with a significant financial burden, resulting in a substantial loss to the Internal Revenue Service.

Assistant United States Attorney Lee J. Karl prosecuted this case on behalf of the government. United States Attorney Cindy K. Chung commended the Federal Bureau of Investigation and Internal Revenue Service, Criminal Investigation for their investigation and assistance in securing Shaw’s conviction.

At Grimy Times, we hold public officials and business leaders accountable for their actions. This case serves as a reminder of the importance of transparency and accountability in our institutions.

Related Federal Cases