Former credit union manager admits to embezzling over $200,000 from elderly client accounts
HOUSTON, Texas (KBTX) – The following is a news release from the U.S. Department of Justice:
A 57-year-old Prairie View woman has pleaded guilty to one count of embezzlement by a federal credit union employee, announced U.S. Attorney Alamdar S. Hamdani.
Gloria Hall was employed at Prairie View Federal Credit Union (PVFCU). From 2017 through 2019, while acting as manager, she purposefully maintained an antiquated business practice which would not allow customers to access their accounts online. Hall admitted she was able to and did access at least two elderly customer accounts and misappropriated $211,563.12 of their funds for her own personal gain.
PVFCU was one of the oldest continually operational federal credit unions a historically black college or university had established in the United States. It did not survive Hall’s embezzlement. PVFCU existed for approximately 85 years prior to its failure and merger with the Cy-Fair Federal Credit Union in early 2022.
“Hall’s personal greed trumped the needs of her community,” said Hamdani. “These banks often form the bedrock of our society, and their failures can have devastating impacts on the people that rely on them. Her actions had severe consequences, actions that deserve a harsh yet just punishment.”
U.S. District Judge Charles Eskridge accepted the plea has set sentencing for Aug. 22. At that time, Hall faces up to 30 years in federal prison and a possible $1 million maximum fine.
Hall was permitted to remain on bond pending sentencing.
The FBI – Bryan Resident Agency conducted the investigation. Assistant U.S. Attorneys Grace Murphy and Thomas Carter are prosecuting the case.
