CINCINNATI A former teller at Cinco CU on Friday was charged with stealing $620,000 she allegedly hid by swapping $1 bills for $100 bills and sandwiching them between bricks of $100s to disguise the theft.
Linda Fite, 62, was the respected head teller at Cinco Credit Union for nine years, supervising other tellers, cash drawers and the large cash deposits the credit union gets daily, according to authorities. She is accused of stealing $600,000 from the credit union from 2003 until last year.
She is accused of removing $100 bills from the bundles leaving a $100 bill on the top and bottom of the stack and replacing them with $1 bills. “It’s like a C-note sandwich,” said the state prosecutor Friday in announcing the charges.
The charges were previously disclosed in a civil suit against Fite by the credit union and CUMIS Insurance Society, which is seeking restitution for the more than $600,000 the insurer reimbursed the credit union for the theft.
Fite was able to continue the deception for years because the credit union never audited the large bags in which the cash comes when delivered, according to the charges. But auditors decided Jan. 25, 2012, to audit those bags, which were supervised by Fite, and discovered the bundles of cash had been tampered with. Days after that happened, Fite resigned.