Ariz. CU manager allegedly embezzled $1.18M

PHOENIX - A Globe woman is accused of embezzling $1.18 million from a now-defunct credit union she managed in Miami, Ariz.

Federal officials said the alleged embezzlement caused or contributed to the credit union's failure.

Marlene Aguilera Pena was indicted on 25 federal counts of embezzlement by an employee of a lending, credit or financial institution, the U.S. Attorney's Office in Phoenix announced Wednesday. Each count carries a maximum sentence of 30 years in prison and a $1 million fine.

Pena, 45, is accused of taking the money from the Marian Miami Federal Credit Union between July 2004 and July 2006.

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The indictment alleges she created more than 140 fictitious loans and fraudulently issued checks to family members and friends, U.S. Attorney's Office spokeswoman Sandra Raynor said.

Raynor said Pena will be issued a summons to appear in court, and she did not know if she had a lawyer.

Reached at her home, Pena declined comment during a brief phone conversation with The Associated Press.

Pena was hired in 1994 and became the credit union's manager in 2000. She began defrauding the credit union in January 2001, according to the U.S. Attorney.

In 2006, Marian Miami had assets of nearly $8 million, 1,740 members and four full-time employees, according to the National Credit Union Association.

The association regulates and insures federal credit unions.

The indictment alleges that Pena began operating the scheme to defraud the credit union in January 2001 and it continued through 2006, when the credit union failed.