May 14-15, 2011

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Former Rockland credit union CEO pleads guilty to bank fraud

WHITE PLAINS – The former chief executive officer of the Rockland Employees Federal Credit Union pled guilty to bank fraud in connection with her defrauding of the institution out of some $150,000.

Cynthia Vaughan, 54, admitted in White Plains federal court that she had transferred money from the credit union’s operating accounts into her own account as well as others under her control. She admitted using the money for personal purposes.

Vaughan, who pled guilty to one count of bank fraud, faces up to 30 years in federal prison when sentenced.


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