Former Finance Employees of Credit Union charged with $1 million embezzlement

Susanna Guajardo of Pearland has been charged with embezzlement and making false entries in the books of a local credit union. She was indicted on five counts in the Southern District of Texas.

Ms Guajardo was the VP of Accounting at Space City Credit Union. The credit union is based in the East end of Houston and was originally chartered as the Stewart & Stevenson Credit Union in 1965. It has 8,000 members and $78 million in assets.

The indictment alleges that Ms Guajardo embezzled $1.155 million between 2010 and July 2017. On the false accounting, the indictment alleges

    • July 23, 2010   Falsified account reconciliation
    • Mar 10, 2016  Falsified general ledger history
    • Sep 12, 2016   Falsified account reconciliation

Another former employee, Grace Garza was also charged last month with embezzling the $1.1 million with Ms Guajardo. Ms Garza was also charged with embezzling $110,000 between 2013 and 2016. She was employed as the Senior Teller and was even Employee of the Year in 2014!

There are no clues in the indictment on how the alleged fraud was discovered.

If convicted of any of the charges, each faces up to 30 years in federal prison and a possible $1 million fine.

https://www.justice.gov/usao-sdtx/pr/two-former-local-credit-union-employees-charged-million-dollar-embezzlement-scam

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