March 12, 2012
Credit union settles suit over theft
Brunswick-based Atlantic Regional Federal Credit Union has settled a lawsuit with a former employee who embezzled more than $500,000 from the institution.
Marsha Richard of Topsham will pay $370,000 in restitution to the credit union instead of the full amount she stole, according to The Associated Press. The credit union in January 2011 announced that Richard, a 21-year employee, stole the money between November 2004 and October 2010, leading to a civil lawsuit against her. No credit union member funds were stolen, according to Atlantic Regional. Richard has already repaid $50,000.
Richard pleaded guilty to the theft in September. A federal judge in January sentenced her to 33 months in prison and a five-year-term of probation.
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