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Press Release

New Orleans Woman Charged With Theft Of Bank Funds

For Immediate Release
U.S. Attorney's Office, Eastern District of Louisiana

U.S. Attorney Kenneth A. Polite announced that GAIL TEAGUE, 48, of New Orleans, was charged today in a Bill of Information with one count of defrauding Ochsner Federal Credit Union.

According to the Bill of Information, from approximately 2000 until approximately May 2013, TEAGUE was employed by Ochsner Federal Credit Union, first as a part-time employee and subsequently as office manager at the credit union.  Specifically, in or around January, 2013, TEAGUE created a fictitious loan in the name “William Morris.”  This loan was disbursed in the form of an official credit union check made payable to a local automobile dealership.  The check was redeposited into the credit union.  TEAGUE then withdrew $34,000 cash from the vault.  Credit Union auditors interviewed TEAGUE and she signed a hand written confession on May 17, 2013, acknowledging that she stole $34,000.

If convicted, TEAGUE faces a possible maximum sentence of ten years imprisonment, and/or a fine of $250,000 and up to three years of supervised release.

The U. S. Attorney’s Office reiterated that a Bill of Information is merely a charge and that the guilt of the defendant must be proven beyond a reasonable doubt.

U.S. Attorney Polite praised the work of the Federal Bureau of Investigation and the National Credit Union Administration in investigating this case.  Assistant United States Attorney Carter K. D. Guice, Jr. of the Fraud Unit is in charge of the prosecution.

Updated December 11, 2014