Florence Septuagenarian Gets Prison for Million-Dollar Embezzlement Scheme
U.S. Attorney’s Office April 01, 2009 |
Columbia, SC—United States Attorney W. Walter Wilkins stated that Christine McLamb, age 72, of Florence, South Carolina, was sentenced in federal court for embezzling from a federally insured credit union, and for aggravated identity theft. United States District Judge R. Bryan Harwell sentenced McLamb to 75 months imprisonment, to be followed by five years supervised release.
McLamb embezzled more than $1 million dollars from the Health Facilities Federal Credit Union while working as its Director of Lending from 1998 until October 2006. McLamb defrauded the credit union by creating loans in customers’ names, then keeping the loan money for herself. To hide the fictitious loans, McLamb created additional loans and used part of those loan proceeds to make payments on the other fraudulent loans. McLamb created approximately 90 fraudulent loans before the fraud was discovered.
McLamb was ordered to pay restitution to the credit union in the amount of $1,033.065.65.
The case was investigated by agents of the Federal Bureau of Investigation. Assistant United States Attorney William E. Day, II, of the Florence office handled the case.