Department of Justice
Office of Public Affairs

ORANGE COUNTY CREDIT UNION PRESIDENT GUILTY

FOR IMMEDIATE RELEASE
February 28, 2011

 

BEAUMONT, Texas – The President of the Orange County Employees Federal Credit Union pleaded guilty to money laundering in the Eastern District of Texas announced U.S. Attorney John M. Bales today.

Sandra H. Cooper, 56, of Orange, Texas, pleaded guilty to money laundering today before U.S. District Judge Marcia Crone.

According to information presented in court, Cooper, the President and Treasurer of the Orange County Employees Federal Credit Union, embezzled approximately $1,164,340 of credit union funds over a four and half year period.  Cooper was indicted by a federal grand jury on Dec. 1, 2010. 

The credit union, which had just two employees, was housed in the administration building adjacent to the Orange County courthouse.  The deposits of the credit union customers were insured by the National Credit Union Administration Board, a federal agency similar to the Federal Deposit Insurance Corporation, which determined in June, 2010, that the credit union was insolvent and arranged a transfer of customer accounts to the Sabine Federal Credit Union. 

Cooper remains released on bond and other conditions of release.  She faces up to 10 years in federal prison.  A sentencing date has not been set.

This case is being investigated by the Beaumont office of the Criminal Investigations Division, Internal Revenue Service and prosecuted by Assistant U.S. Attorney Robert L. Rawls.
           
# # #

Return to Top