The NCUA in December issued one prohibition notice and one prohibition order, which prohibit individuals previously associated with credit unions from any future participation in the affairs of a federally insured financial institution. Violation of a prohibition order is a felony offense punishable by imprisonment and a fine of up to $1 million. The names and details from last month’s prohibition notices follow:
Violation of a prohibition order is a felony offense punishable by imprisonment and a fine of up to $1 million. The names and details from last month’s prohibition notices follow:
Tobisha Bullock, a former institution-affiliated party of CAANO Employees Federal Credit Union in New Orleans, La., agreed and consented to the issuance of a prohibition order and agreed to comply with all its terms to settle and resolve the NCUA Board’s claim against her.
Bullock, who worked as president/CEO at the $2.3 million Caano Employees Federal Credit Union in Kenner, La. from at least 2012 to the end of the first quarter of 2018, allegedly submitted an application for a loan to herself that contained false or incomplete information, according to the independent federal agency.
She also allegedly made unauthorized payments to herself, including payments for health insurance that exceeded the approved amount and payments for vacation time in excess of the time she had accrued, the NCUA prohibition order shows.
The total amount of the unauthorized payments and loan was not furnished in the prohibition document.
Bullock, who also was listed as the treasurer and secretary of the credit union, did not admit or deny these allegations.
Because of its poor financial condition, the NCUA approved the merger of Caano Employees FCU into the $268 million Riverland Federal Credit Union in New Orleans in July 2018.
At the end of 2016 and 2017, the credit union posted net income losses of more than $44,000 and $81,000, respectively, according to NCUA financial performance reports. At the end of the third quarter in 2018, it final quarter of operation, Caano Employees FCU posted a net income of loss of $48,263 and an ROAA of -2.38%, according to NCUA financial performance reports.
Bradley J. Hampton, a former employee of HawaiiUSA Federal Credit Union in Honolulu, Hawaii, was sentenced to one count of bank fraud. Hampton, 37, a former financial services officer for the $1.7 billion Hawaii USA Federal Credit Union in Honolulu, pleaded guilty to one felony count of bank fraud in U.S. District Court. In exchange for his guilty plea, federal prosecutors dropped four other bank fraud charges and one aggravated ID theft charge, court documents show.
From February 2017 to June 2018, Hampton admitted that he accessed accounts of three members and forged their signatures to steal more than $9,000 from one account that belonged to a member who died in 2016 and more than $8,000 from another member’s account.
Hampton also stole nearly $60,000 from a member’s trust accounts. When confronted by supervisors, Hampton admitted to the theft and was fired last October. The former credit union employee said he stole the money to pay his rent and used cashier’s checks to pay his landlord.
NCUA enforcement orders are available via a searchable database online. Enforcement actions of federal banking agencies against other institutions or their affiliated parties may also be viewed via the administrative orders webpage.
NCUA Bans Two from Future FI Work – Credit Union Collections – NCUA – Fraud
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