IOWA CITY – A member of University of Iowa Community CU was charged with second-degree theft that resulted in fraudulent checks deposited at a credit union ATM.

Morgan Machholz, 20, llegedly visited the credit union on Aug. 6 where she opened a new checking account. On Aug. 23, she made three empty envelope deposits totaling $6,500 at the ATM and subsequent withdrawals through the account.

After the fraudulent deposits, Machholz withdrew $3,900 in cash, according to the charges. She is seen on video surveillance and has been identified as the account holder and the person completing the deposits.

 

Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.