Former credit union head pleads to stealing funds

Print
Email
|

Associated Press

Posted on January 10, 2013 at 7:32 AM

DALLAS (AP) — A Dallas woman who once ran a federal credit union has pleaded guilty to hiding at least $3.4 million in funds and using them for cars, property and other personal purchases.

Theresa Portillo pleaded guilty Tuesday in Dallas federal court to one count of embezzlement of funds from a credit union.

The 34-year-old Portillo faces up to 30 years in prison.

Prosecutors say Portillo is a former employee of the Women's Southwest Federal Credit Union. She collected $3.4 million by selling certificates of deposit from the credit union. Buyers were told to wire money into an account that other credit union officials thought was inactive.

Prosecutors say Portillo also paid credit card bills, vacation expenses and medical bills with the money.

Print
Email
|