ALEXANDRIA, Va. NCUA this afternoon banned from credit unions Robert Liddle, the former chief of member business lending at Yuma, Arizona’s AEA FCU for engineering a $60 million MBL fraud that almost sunk the one-time $410 million credit union.
Liddle was sentenced last June to 15 years behind bar for approving more than $60 million in fraudulent loans in exchange for more than $1 million in kickbacks and bribes. The fraud caused the credit union $38 million in losses and prompted NCUA to take it under conservatorship in December 2010.
Liddle was convicted on charges of bank fraud, conspiracy and money laundering for approving MBLs to several local developers in exchange for bribes of one kind or another. One developer said he gave Liddle more than $1 million worth of bribes, including $565,000 to buy a home, a membership at the Yuma Country Club, $40,000 to buy a Toyota Sequoia, $9,600 to buy a Corvette and $246,200 in cash.
NCUA also banned:
- Tiffany Samuells, a former employee of Clara Barton FCU for a fraud that cost the Washington, D.C., credit union almost $500,000 in losses;
- Teresa DJohnson, a former employee of SAFE FCU, for embezzling $420,000 form the Sumter, S.C., credit union;
- Brian Tyler, a former employee of East Kentucky Employees FCU, for stealing $105,000 from the Winchester, Ky., credit union;
- Joseph Cicione, III, former CEO of Alliance Blackstone Valley FCU in Pawtucket, R.I.;
- Aimee Lyn Bailey, a former employee of Credit Union of America, in Wichita, Kan., for embezzling $52,000 from her credit union.
- Raymond Cordero, a former employee of Envision CU, for stealing $12,000 from the Tallahassee, Fla., credit union;
- Kristi Lynn Hunter, a former employee of the Russell Country FCU in Great Falls, Montana for embezzling $5,000 from the credit union;
- Paul A. Amato, former vice president of finance for Medical Area FCU in Brookline, Mass.