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NCUA issues prohibition orders against 3 former credit union employees

ALEXANDRIA, VA (Sept. 30, 2014) – The National Credit Union Administration has issued three orders in September prohibiting the following individuals from participating in the affairs of any federally insured financial institution:

  • Lisa Frace, a former employee of Baker Federal Credit Union in Phillipsburg, New Jersey, pleaded guilty to multiple charges of theft and forgery. Frace was sentenced to six months in prison, three years of probation and ordered to pay restitution in the amount of $68,387.74.
  • Anthony Raguz, a former employee of St. Paul Croatian Federal Credit Union in Eastlake, Ohio, pleaded guilty to the charges of bank fraud, money laundering and receipt of commissions or gifts for procuring loans. Raguz was sentenced to 14 years in prison, three years supervised release and ordered to pay more than $71.5 million in restitution.
  • Melissa Shurina, a former employee of USX Federal Credit Union in Cranberry Township, Pennsylvania, was admitted into an Accelerated Rehabilitative Disposition program for the charge of theft. Shurina was placed on probation for a period of six months, and ordered to complete 20 hours of community service and pay restitution.

NCUA enforcement orders are available online and for inspection at NCUA’s Office of General Counsel between 9 a.m. and 4 p.m. Monday through Friday. You also may order copies by mail from NCUA, 1775 Duke St., Alexandria, VA 22314-3428.

Credit unions may search prohibition and administrative orders by name, institution, city, state and year at http://go.usa.gov/gFP5. The webpage also provides links to the enforcement actions of other federal banking regulators against other institutions or their affiliated parties.

Violation of a prohibition order is a felony offense punishable by imprisonment and a fine of up to $1 million.

NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 98 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At MyCreditUnion.gov and Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.

–NCUA–

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