California jury convicts former CU employee of insider fraud

Following a three-day trial, a Los Angeles jury found a former credit union employee guilty Monday of 15 felony counts of conspiracy to commit insider fraud and financial institution fraud that led to more than $1.2 million in losses.

Indira Mohabir, 42, of La Palma, who worked as a business loan processor from 2013 to 2015 at the then Western Federal Credit Union — now the $2.9 billion Unify Financial Credit Union in Torrance — is scheduled to be sentenced in April.

Trial evidence showed that Mohabir opened in secret and without authority nearly $3 million in lines of credit for her online boyfriend, Phillip Cook, 51, who had been living South Euclid, Ohio during the three-year scheme. Cook quickly drew down on the credit lines opened by Mohabir, which led to more than $1.2 million in losses for the credit union, according to federal prosecutors.

Through a dedicated hotline for business members, Mohabir met Cook and they quickly became involved in a romantic relationship. Cook lured the former credit union employee with flowers, promised to take her on exotic trips and mailed her gifts including a $50,000 check drawn on the credit lines that she earlier opened for him – a check that was intercepted at the credit union, according to trial evidence.

 

continue reading »