Yesterday, the U.S. District Court for the District of Columbia handed down a 63-month prison sentence [PDF] to Reginald A. Clark, 42, a former accountant for the Hoya Federal Credit Union, who was convicted in February for embezzling over $200,000 from the institution.
Between 2001 and 2003, Clark exploited weaknesses in the credit union’s computer systems in order to redirect the funds. Police arrested him in 2003 after an internal investigation revealed discrepancies in the credit union’s accounting records.
A federal jury found Clark guilty of charges of bank fraud, wire fraud, and making false entries in federal credit institution records. The Hon. Reggie B. Walton of the U.S. District Court sentenced Clark on Tuesday to pay back the $219,286.41 he stole, as well as serve 63 months in prison and five years under supervised release.
Hoya Federal Credit Union serves Georgetown University faculty and staff. Deposit insurance spared the bank from any losses as a result of the scheme.
h/t Georgetown Patch