Ex-Mississippi credit union leader admits taking $350,000

GULFPORT, Miss. (AP) - A former vice president of a Mississippi Gulf Coast credit union says she embezzled more than $350,000.

Merrideth Christina McMillian of Vancleave pleaded guilty Monday in federal court in Gulfport to one count of theft from Singing River Federal Credit Union.

Federal prosecutors say she 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.

McMillian remains free on bail until sentencing June 24. She faces up to 30 years in prison and a $1 million fine. Prosecutors want her to forfeit the gains.

CEO Jimmy Smith tells WLOX-TV an insurer repaid losses and no depositors of the Moss Point credit union lost money.

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Information from: WLOX-TV, http://www.wlox.com