Former Branch Manager is Sentenced for Stealing $1.3 Million

BEAUMONT, Texas–A former assistant branch manager of a credit union here has been sentenced to federal prison after being found guilty of stealing $1.3 million.

Billy Ray Thomas, Jr., 40, of Winnie, Texas, worked for Neches Federal Credit Union from 2005 until he resigned in 2018. The U.S. Attorney’s Office for the Easter District of Texas says he stole federal prosecutors say during that time up to 30 credit union members began noticing loans on their accounts that they did not apply for, with Thomas pocketing the proceeds.

Thomas appeared be U.S. District Judge Marcia Crone and pleaded guilty to a charge of Bank Fraud Conspiracy. He was sentenced to two years and 10 months in federal prison and ordered to pay back the $1.3 million in restitution.

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