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Former Corry Area Schools FCU CEO admits to embezzling from the CU

Former Corry Area Schools Federal Credit Union CEO Karen Schenck pleaded guilty to a charge of embezzling from the Corry, Pa.-based credit union, CUToday reported Dec. 21.

Schenck admitted stealing more than $741,000 through false loans and deposits and making unauthorized withdrawals from members' accounts. She is scheduled to be sentenced in April next year and may face as much as a 30-year jail sentence and a fine of $1 million.