Woman Pleads Guilty to Embezzling Nearly $2.5 Million from Credit Union

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DES MOINES, Iowa — A former employee has pleaded guilty to embezzling almost $2.5 million from the Chariton credit union where she worked.

On Friday, 68-year-old Linda Clark of Corydon pleaded guilty to one count of embezzlement by a credit union employee. According to United States Attorney Kevin VanderSchel, Clark took the money while she worked as a bookkeeper between 1978 and August of 2015, when she resigned.

Clark admitted she embezzled $2,494,809 from the SCICAP Credit Union – using a second set of accounting records to hide the theft and putting the stolen money in personal accounts belonging to her and her children.

Due to Clark’s embezzlement the credit union was liquidated after becoming insolvent.

Clark is scheduled to be sentenced November 15th and faces up to 30 years in prison and a $1 million fine. Her plea deal stipulates she will pay restitution in the case.