The former CEO of a northern Vermont credit union closed by regulators a year ago has pleaded guilty to embezzlement.
According to court documents, Debra Kinney has agreed to pay the government $250,000. The indictment contends that Kinney embezzled funds from the Border Lodge Credit Union in Derby Line beginning in late 2010. The credit union served 1,100 members and was one of the state’s smallest. It operated from Kinney’s home.
In addition to the payment, additional fines or penalties against Kinney may be forthcoming. Kinney could also be sentenced to up to 30 years in prison.
Deposits of $250,000 or less are insured by the National Credit Union Administration.
