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Former credit union manager charged with theft from business
GLENS FALLS, NY (May 21, 2015) — The former chief executive officer of Parks Heritage Federal Credit Union has been charged with 12 felonies for allegedly stealing an estimated $9,000 from the business, police said.
Michael D. Howard, 38, of South Glens Falls was charged with third-degree grand larceny and 11 counts of falsifying business records after a Warren County grand jury investigation that stemmed from a Glens Falls Police inquiry, authorities said.
Howard was accused of using credit union money to pay for personal expenses, which include home improvement work, pest control work and clothes purchases, Glens Falls Police Detective Lt. Peter Casertino said.
The transactions were concealed to appear as legitimate bank business, but police were contacted in December 2013 when the credit union suspected fraud, police said.
Investigators obtained records related to the transactions, and a grand jury decided recently that charges were warranted.
Howard was arraigned Friday and sent to Warren County Jail for lack of bail, but has since posted bail. His lawyer, Derrick Hogan, could not be reached for comment Wednesday.
Howard is no longer employed by the business, which has an office on Murray Street in Glens Falls, behind Glens Falls Hospital. Its website describes it as “the only financial institution in the tri-county area that dedicates its resources to medical service professionals and their families.”
Casertino said credit union customers’ money was not taken, but the funds came from the credit union’s funds.
“There were no customers out any money,” he said.
Anthony LaPointe, the credit union’s chief executive officer, said said the credit union has policies and procedures in place to protect credit union customers and their funds. The agency is also bonded, and protected by the National Credit Union Administration, he said.
Howard was the credit union’s CEO between 2010 and 2013.
Glens Falls Police Detective Sgt. Joseph Boisclair investigated the case.