Former credit union manager indicted
MT. PLEASANT (GTNS) – Lori Bentler, a former manager of MHI Credit Union (now Community 1st Credit Union) of Mt. Pleasant, was indicted by the United States District Court Grand Jury on April 23 for 27 counts of criminal charges, stemming from allegations of scheming the credit union out of nearly $100,000.
According to court documents, Bentler, represented by Paul D. Scott of West Des Moines, is facing 13 charges of bank fraud, 13 charges of false entries in the reports of a financial institution and one count of money laundering.
Court documents state Bentler changed the payment dates to falsely represent that the loans issued to her and her sister and daughter were not delinquent. She also fraudulently and materially entered false payments on loans issued to her and her family members prior to actually receiving or depositing the payments, state the court documents. A total of $90,698.73 was issued or refinanced by Bentler, according to court documents, based on material misrepresentations or omissions without the approval of MHI Credit Union board members.
The MHI Credit Union policy required the approval of two board members for the issuance of any loans. The policy also required that insider loans – loans to an employee or board member – be approved by the full board of directors. The credit union policy also limited personal, unsecured loans to $2,000 per member account. According to court documents, Bentler went over this limit multiple times.
Court documents show that Bentler also changed payment due dates on loans issued to herself and her family members, and also entered false payments for loans issued to herself and her family members knowing that no payment had actually been made on these loans.