A Kansas credit union loan officer has admitted to stealing more than $171,000 from his employer.
The DOJ says Ricky Naovoravong, 39, of Garden City pleaded guilty to embezzlement by a credit union employee and was sentenced to 19 months in prison plus $207,920 in restitution.
Naovoravong worked as a loan officer at Garden City Teachers Federal Credit Union when a manager spotted a transfer from a member’s savings into his checking account in August 2024.
Investigators say he created a $5,000 loan in that member’s name, then used the victim’s account to make payments that landed in his own account.
He then kept inventing new fake loans to service older ones so members would not get notices.
The scheme stole $171,164 between November 2020 and August 2024, according to the case.
Says U.S. Attorney Ryan A. Kriegshauser,
“Banks and credit unions collect people’s personal information because it’s a requirement of doing business.
When employees with access to sensitive information use it to commit fraud, embezzlement, or other types of financial crimes, they will eventually get caught. When they are exposed, they’ll have to face the justice system.”
Naovoravong has been sentenced to 19 months in prison
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Kansas Credit Union Loan Officer Embezzles $171,000 With Fake Member Loans appeared first on The Daily Hodl.
