BISMARCK, N.D. – The lone employee at tiny Glen Ullin CU was charged yesterday with stealing more than $130,000 of members’ funds during a fraud that may have been going on for as long as 24 years.
Georgia Schwartz was the manager and only employee of the credit union when she skimmed thousands of dollars from members, stealing as much as $50,000 from one 89-year-old member, according to authorities. Another member was missing $23,000; and a third member was missing almost $22,000.
The tiny credit union was marged last year into Western Cooperative CU.
Schwartz, who was manager of the $800,000 credit union for more than 25 years, allegedly kept two sets of books to hide the scheme.
Prosecutors say Schwartz may have stolen more than $130,000 but the statute of limitations only goes back three years so any thefts before that will not be charged against her.
Trial is scheduled Sept. 11 in Bismarck.