Took out $14K in cash advances under name of a one-year-old and more
In 2013, a couple discovered a car loan and a credit card account on their credit union accounts that they did not apply for. They also noticed a series of suspicious withdrawals from their accounts that dated all the way back to January 2013. After contacting police, they were shocked to find their one-year-old child was also a victim. More appalling was the fact that the person who committed these crimes, was a lifelong friend.
Elizabeth Ann Oliver, 36, a former Loan Officer of $63.4 million Lancaster Red Rose Credit Union in Leola, Pa. in Lancaster Township, was charged June 3rd with theft, fraud, identity theft and related offenses.
in August 2020, Oliver pleaded guilty to theft by deception, identity theft and tampering with records and was sentenced to probation.
From January 2013 to June 2018, Oliver stole more than $16,000.
In December 2018, an unnamed husband and wife found that there was a car loan and a credit card on their accounts that they did not apply for. They also found a series of suspicious withdrawals from their accounts that dating back to January 2013. The credit union contacted the police and launched an internal investigation, which confirmed the fraud in 2019.
In 2013, Oliver took a cash advance in the amount of $14,514 on a fraudulent credit card account in the name of the couple’s then one-year-old son. Three years later, she created a fake car loan for $26,169 using the wife as the borrower, according to the investigation.
Police soon discovered Oliver was a lifelong friend of one of the victims.
The vehicle assigned to the loan did not even exist. Instead, Oliver listed a 2015 Ford Explorer was purchased, but she used the vehicle identification number from a 2008 Ford Fusion that the couple had previously and legitimately financed through LCRRCU. According to the investigation, funds from the car loan were used to pay back the balance on the phony credit card and funds that Oliver withdrew from the couple’s joint credit union account.
Oliver was ordered to pay restitution of $16,699 and court costs and fees of $3,407, according to court records. Oliver has been banned by the NCUA from credit union employment for life.
Source: Lancaster Online
Fraud –
Credit union loan officer defrauds lifelong friends
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