Sixty-eight-year-old Linda Lee Clark pleaded guilty to one count of embezzlement by a credit union employee and admitted to embezzling $2,494,809 from the SCICAP Credit Union in Chariton.
Clark took the money from the time she began working there in 1978 until she resigned in August 2015. Clark put money from customer deposits into her own personal account and the accounts of her children; and also made unauthorized withdrawals of funds from member accounts into her own personal account and the accounts of her children.
She kept two sets of records on the Credit Union’s data processing system to hide the theft. Clark’s embezzlement eventually forced the Credit Union into liquidation. Clark will be sentenced on November 15th and faces up to 30 years in prison, a fine of up to one million dollars. She has agreed to pay restitution.
The credit union was federally insured and its assets were transferred to an Ottumwa credit union.