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Former CU employee gets prohibition order

Hobart, IN
Fine Amount: 
Prohibition order
Penalty Type: 
Issued by: 

The NCUA has issued a consent order of prohibition to PAUL AIMONE, a former institution-affiliated part of Midwest Carpenters & Millwrights Federal Credit Union, Hobart, Indiana, after finding that Aimone:

  • While an employee of the credit union, misapplied funds by removing funds totaling approximately $1,500,000 from a General Ledger Account without the credit union's authorization or knowledge; and
  • While an employee of the credit union, with knowledge and intent, misused nonmember funds to credit unrelated loan payments on delinquent loans, make VISA credit card payments for members, and/or paid operational expenses for the credit union, without authorization of the owner of the funds; deleted and destroyed account records from the credit union's database; and falsely reported the financial condition of the credit union intending to manipulate the its regulatory net worth ratio.

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