Following a seven-month investigation by the Honolulu Federal Bureau of Investigation, three employees of the OTS Employees Federal Credit Union (OTSEFCU) were charged Wednesday with embezzlement and misapplication of funds.
One defendant was also charged with making false entries into the records of the credit union.
The individuals charged are:
- Dona Takushi, age 54, of Honolulu, former manager/CEO at OTSEFCU – charged with two counts of embezzlement and one count of false entries. Total of her alleged fraud: $114,410.
- Nicole Cheung, age 34, of Honolulu, former loan officer at OTSEFCU – charged with one count of embezzlement. Total of her alleged fraud: $16,732.
- Jenny Nishida, age 41, of Pearl City, former teller at OTSEFCU – charged with one count of embezzlement. Total of her alleged fraud: $358,685.
All three defendants are expected to surrender prior to their initial appearances in U.S. District Court as per prior negotiations with their attorneys.
The statutory maximum penalty for embezzlement from a federally-insured credit union is 30 years in prison per count. The statutory maximum penalty for making false entries into the books and records of a federal credit union is 30 years in prison per count.
The OTS Employees Federal Credit Union is the federally-insured financial institution associated with TheBus in Honolulu and provides banking services to employees. It is located on the grounds of TheBus offices at 811 Middle St. in Honolulu.
The following is a statement from Gloria Omandam, new CEO/manager of OTS Employees FCU:
The Credit Union, with the assistance of the FBI, has been investigating alleged misconduct against the Credit Union. The Credit Union has conducted an extensive independent audit to assure its safety and soundness. No member suffered a loss, and any loss suffered by the Credit Union has been recouped (other than investigative costs). Accounts at the Credit Union are insured by the federal National Credit Union Share Insurance Fund to the full extent provided by law.