The National Credit Union Administration prohibited four individuals from engaging in any of the activities of a federally insured financial institution.
Johnnie Earl Harrell, Jr, who is a former employee of the $95 million-asset Welcome Federal Credit Union in Morrisville, North Carolina, is forbidden from participating in any and all affairs of an insured depository institution, the NCUA said Thursday. Harrell, according to agency filings, was accused of engaging in or participating in unsafe or unsound practices with WFCU and led the credit union to suffer financial loss.
Another ban was issued to Stacey Shaw, who formerly worked for IBEW Local Union 712 Federal Credit Union in Beaver, Pennsylvania. The NCUA placed IBEW into liquidation on May 29th, 2020. Agency records allege that Shaw, while employed by IBEW, opened six credit cards and raised the credit limits on each to execute a total of $2,099,437.50 worth of charges and cash advances.
Both people have agreed and consented to the prohibition orders issued to them, and have confirmed their compliance with all the terms provided by the NCUA, the agency said in its release.
Additionally, two other individuals were sentenced for their charges and thus received notices of prohibition.
Jonathan Sanchez-Santiago, formerly employed at the $290 million-asset Guardians Credit Union in West Palm Beach, Florida, was convicted and sentenced for charges of grand theft in connection with his employment at the credit union.
Trevon Gross, a former employee of Helping Other People Excel Federal Credit Union, a Jackson, New Jersey-based institution that closed in 2015, was sentenced for charges of conspiracy to commit financial institution bribery, making false statements, obstructing the examination of a financial institution and receiving corrupt payments as an officer of a financial institution with intent to be influenced, according to the U.S. Attorney’s Office for the Southern District of New York.
With these four prohibitions, the NCUA has issued a total of 20 for the year so far.
