ALEXANDRIA, Va. (11/2/15)--A former employee of Lynrocten FCU in Lynchburg, Va., one from InTouch CU in Plano, Texas, and another of the now-closed Center Valley FCU of Wheeling, W.Va., have been banned by National Credit Union Administration prohibition orders from ever again participating in the affairs of any federally insured financial institution.
The NCUA released the following information on its October enforcement orders Friday:
Linda Sue Newcomb, the former manager of the now-closed Lynrocten FCU, pleaded guilty to charges of embezzlement, bank fraud and aggravated identity theft. Newcomb was sentenced to 10 years in prison and five years of supervised release. She also was ordered to pay more than $11.7 million in restitution.
Douglas Ratcliffe, formerly an employee of InTouch CU, pleaded guilty to the charge of credit union theft. Ratcliffe was sentenced to 21 months in prison and five years of supervised release. He also was ordered to pay restitution in the amount of $388,607.82.
Bernie D. Metz, the former CEO/manager of the now-closed Center Valley FCU, pleaded guilty to the charges of money laundering and embezzlement from a credit union by an employee. Metz was sentenced to nine years in prison and five years supervised release. She also was ordered to pay more than $4.8 million in restitution.
NCUA enforcement orders are available online and for inspection at NCUA’s Office of General Counsel between 9 a.m. and 4 p.m. Monday through Friday. Copies may be ordered by mail from NCUA, 1775 Duke St., Alexandria, VA 22314-3428.
Credit unions may search prohibition and administrative orders by name, institution, city, state and year at http://go.usa.gov/gFP5. The webpage also provides links to the enforcement actions of other federal banking regulators against other institutions or their affiliated parties.
Violation of a prohibition order is a felony offense punishable by imprisonment and a fine of up to $1 million.