Woman Sentenced In Credit Union Embezzlement
MONROE (WWJ/AP) - An Ohio woman who authorities say embezzled $2.1 million from a small credit union in Michigan has been sentenced to at least 45 months in prison.
Sharon Broadway of Toledo was in court Thursday in Monroe County to learn her punishment. She faced up to 20 years in prison after earlier pleading guilty to felony embezzlement and racketeering charges.
A judge also ordered Broadway to pay $2,598,000 in restitution and barred her from working in the financial industry.
Authorities say Broadway stole money for more than 20 years from the United Catholic Credit Union in Temperance, near the Ohio border. Broadway was described by the Attorney General office as the credit union’s “manager, secretary, board member, and sole employee.”
Investigators say Broadway hid her actions for nearly using a scheme that included not recording certificates of deposit on credit union books. Prosecutors say the embezzlement was discovered during a routine examination by regulators.
The credit union was closed in August when problems were detected. Because of insurance, no depositor lost money.
Defense lawyer Lorin Zaner told The Blade of Toledo that Broadway is “very apologetic for what happened and how she’s let so many people down.”
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