A former vice president of a Mississippi Gulf Coast credit union will spend nearly three years in prison after she pleaded guilty to embezzlement.
The Sun Herald reports Merrideth Christina McMillian of Vancleave begged U.S. District Judge Sul Ozerden on Thursday to consider house arrest for her penalty, citing children in high school, but Ozerden declined. The judge also ordered McMillian to pay $376,152 in restitution.
Federal prosecutors say McMillian took out fraudulent loans using names of her father, son and friends, using collateral from her grandmother’s estate multiple times.
The thefts occurred from October 2017 to last September, when an audit discovered the transactions.
Credit union CEO Jimmy Smith says the credit union’s reputation was damaged because of her financial crimes and justice needed to be served.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info