Former CU CEO sentenced to seven years for embezzlement
Federal judge orders Allennie Naeole to pay more than $1 million in restitution.
A former president/CEO, who embezzled more than $1 million that led to the closure of a Hawaiian credit union and a loss of more than $2 million to NCUA’s insurance fund, was sentenced last week to seven years in federal prison.
U.S. District Court Judge Derrick K. Watson in Honolulu also ordered Allennie Naeole to pay $1,055,188 in restitution and four years of supervised release following her prison term.
Naeole, the former CEO of the $3.1 million First Hawaiian Homes Federal Credit Union in Hoolehua, on the island of Molokai, pleaded guilty to conspiracy to embezzle credit union funds and aggravated identity theft in February.
Janell Purdy, who worked as a customer service representative and teller, also pleaded guilty to one count of conspiracy to embezzle credit union funds earlier this year. Her sentencing hearing has not been scheduled.
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