Estimated read time: 1-2 minutes
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
Nadine Wimmer reporting Police and prosecutors are reeling in light of several high profile cases of embezzlement.
And now, Eyewitness News has uncovered exclusive details about another one involving large amounts of money, hundreds of victims, and a sharp blow to public trust.
The FBI is investigating a potential embezzlement crime, in which the victim isn't just the company, but thousands of innocent people who put their trust in a financial institution.
The case involves Utah Copper Employees Credit Union.
I spoke Wednesday night with a state supervisor of credit unions who confirmed agents and auditors are looking into allegations the president of the company stole large amounts of money for several years.
Agent George Doughterty confirmed:
- the FBI is investigating
- the alleged embezzlement involves a lot of money, we're told independently millions of dollars.
- they have not yet filed any charges
- But, he stresses, all credit union members' money is safe and insured.
Rumors of potential problems have been circulating for weeks among members like one woman we spoke with. She went to the credit union while auditors were there.
These problems came to light during routine examinations. The credit union president is no longer employed.
Money is Safe
We want to stress again, credit union members should not worry-- your money is safe. It's federally insured and the institution is backed by an individual bonding company.
