Former credit union loan officer pleads guilty to role in fraudulent loan scheme
ALEXANDRIA, La. – United States Attorney David C. Joseph announced today that Cynthia J. Feazell, 48, of Montgomery, Louisiana, pleaded guilty before U.S. District Judge Dee D. Drell to authorizing fraudulent loans that caused nearly a quarter of a million dollars of loss to her credit union employer.
According to the guilty plea, Feazell worked as a loan officer and assistant manager at Valex Federal Credit Union in Rapides Parish from 1997 to 2016. The defendant decided to purchase a mobile home in 2015 and obtained loan funds from Valex. She did not qualify for the loan, so she transferred three vehicle loans taken out in her name to her mother’s name in order for her to qualify for the loan. Additionally, Feazell authorized loans for her ex-husband, even though she knew he did not meet the Valex credit requirements. Feazell falsified documents to accomplish the scheme and was aware her actions were fraudulent. The defendant’s fraudulent acts caused Valex a loss of $243,167.95.
Feazell faces 30 years in prison, five years of supervised release, restitution and a $1 million fine. The court set the sentencing date for December 17, 2019.
The FBI conducted the investigation. Assistant U.S. Attorney Kelly P. Uebinger is prosecuting the case.