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Press Release

New Orleans Woman Pleads Guilty to 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, pled guilty yesterday to defrauding Ochsner Federal Credit Union in connection with the theft of funds during her employment.

According to the Bill of Information, TEAGUE was employed by Ochsner Federal Credit Union, first as a part-time employee and subsequently as office manager at the credit union from approximately 2000 until approximately May 2013.  TEAGUE admitted to stealing $34,000 by creating a fraudulent loan.  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.

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.  U.S. District Judge Stanwood R. Duval, Jr. set sentencing for July 15, 2015.

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

Updated March 26, 2015