U.S. Attorney John M. Bales announced today that a 35-year-old Hooks, Texas woman has pleaded guilty to embezzling credit union funds in the Eastern District of Texas.
WENDY RENEE McDONALD pleaded guilty to embezzling funds from the Texar Federal Credit Union today before U.S. District Judge David Folsom.
According to information presented in court, from Sept. 1, 2007 through Oct. 24, 2008, McDonald was employed as a bank teller for Texar Federal Credit Union in Hooks, Texas, Texarkana, Texas, and Texarkana, Arkansas. During this time, McDonald embezzled from the Credit Union by creating fraudulent loans and using the proceeds of those loans for her personal benefit. As a result of this scheme, McDonald embezzled $52,696.50 from the Texar Federal Credit Union. McDonald was indicted by a federal grand jury on Mar. 4, 2009.
McDonald faces up to 30 years in federal prison at sentencing. A sentencing date has not been set.
This case is being investigated by the Federal Bureau of Investigation and prosecuted by Assistant U.S. Attorney Denise O. Simpson.