Former Va. credit union manager admits role in embezzlement

WLNI-SLYNCHBURG, Va. (AP) — The former manager of a defunct Lynchburg credit union has admitted her role in an embezzlement scheme. Media outlets report 63-year-old Linda Sue Newcomb of Madison Heights pleaded guilty Friday in U.S. District Court in Lynchburg to embezzlement, bank fraud and aggravated identity theft. Under a plea agreement, Newcomb agreed to a sentence of 7 to 12 years and pay restitution. She will be sentenced May 26. Newcomb managed the Lynrocten Federal Credit Union, which closed in May 2013 after the scheme was discovered. Federal prosecutors say the amount of lost deposits totaled more than $13 million from 2000 to 2013. Co-defendant Teresa Humphries faces up to 30 years in prison when she’s sentenced March 24. Newcomb and Humphries were the credit union’s only two full-time employees.

 

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