URW Community Federal Credit Union
Outcome
Jorge Navarro, a former employee of URW Community Federal Credit Union, was convicted and sentenced on one count of misapplication and embezzlement from a credit union, and permanently prohibited by the NCUA from participating in the affairs of any federally insured depository institution.
Details
URW Community Federal Credit Union — Employee Embezzlement (2019–2022)
Outcome: Jorge Navarro, a former employee of URW Community Federal Credit Union, was convicted and sentenced on one count of misapplication and embezzlement from a credit union, and permanently prohibited by the NCUA from participating in the affairs of any federally insured depository institution.
Jorge Navarro was employed at URW Community Federal Credit Union in Danville, Virginia. He was convicted of misapplication and embezzlement of credit union funds. Following his criminal conviction, the National Credit Union Administration issued a prohibition order permanently barring Navarro from participating in the affairs of any federally insured depository institution.
The NCUA's prohibition order was issued in January 2023, following the criminal sentencing. URW Community Federal Credit Union is a community development credit union serving underserved populations in the Danville, Virginia area.
Primary Source: NCUA: Prohibits Two Individuals From Participating in the Affairs of Any Federally Insured Depository Institution
How Crucible Prevents This
The credit union employee exploited access to member accounts to misapply and embezzle funds. Crucible's role-based access controls with transaction monitoring would detect unusual patterns of account access and fund movement by individual employees, and segregation of duties would prevent a single employee from initiating and concealing unauthorized transactions.
Don't let this happen to your organization. See how Crucible works.
See How Crucible Works