Global: Former head of credit union admits to bank fraud

LITTLE ROCK, Ark. (AP) — The former president of the Arkansas Employees Federal Credit Union has admitted to using a bank customer's money for her own investment.Joyce Judy pleaded guilty Tuesday to one count of bank fraud in federal court in Little Rock. She has not been sentenced, but the charge carries a maximum of 30 years in prison.

In a news release, U.S. Attorney Christopher Thyer says Judy persuaded a customer to invest $500,000 in what she said was a certificate of deposit. Instead, she used the money as half of a $1 million investment she made with someone else.
Judy would lose the funds when they were wired out of the country without her permission.
Judy has agreed to reimburse the credit union.
Her attorney didn't immediately return a message seeking comment.