NCUA lists April prohibition actions

The National Credit Union Administration has announced it issued two prohibition orders and one notice of prohibition in April. The individuals named in the orders are prohibited from participating in the affairs of any federally insured depository institution.

• Mark Colley, former CEO of First Oklahoma Federal Credit Union, Tulsa, Oklahoma, was found to have, without authorization, advanced due dates on multiple loans on multiple occasions to extend the time borrowers had to make loan payments; advanced funds from closed-end loans to member accounts for purposes of making payments on those same or other loans; and submitted reports with understated delinquency figures.
• Barbara Diane Nelson, a former employee of Gerber Federal Credit Union, Fremont, Michigan, was found to have embezzled funds from the credit union for her personal gain and later pleaded guilty to charges of embezzlement and using computers to commit a crime.
• Indira Mohabir, a former business loan processor at Western Federal Credit Union, Torrance, California, had been sentenced to 18 months of home confinement on charges of conspiracy to commit financial institution fraud and of issued credit union obligations without authority. According to the Credit Union Times [subscription required], court documents allege Mohabir opened nearly $3 million in lines of credit for her boyfriend, who was sentenced to six months in federal prison and 12 months of home confinement.