- Associated Press - Friday, March 27, 2015

NEW ORLEANS (AP) - Federal prosecutors say a 48-year-old woman has pleaded guilty to stealing $34,000 from a credit union she worked for by creating a fraudulent loan.

U.S. Attorney Kenneth A. Polite says Gail Teague of New Orleans pleaded guilty on Wednesday to defrauding the Ochsner Federal Credit Union, where she worked as an office manager.

Prosecutors say Teague created a fictitious loan in the name of “William Morris” for $34,000 in January 2013. The loan was disbursed as an official credit union check and then re-deposited into the credit union. Prosecutors say Teague then withdrew $34,000 in cash from the credit union’s vault.

She faces 10 years in prison, a fine of $250,000 and up to three years of supervised release.

Sentencing has been set for July 15.

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