Former OTS credit union employees plead guilty to embezzlement

OTS Employees Federal Credit Union
OTS Employees Federal Credit Union

Two employees of the OTS Employees Federal Credit Union (OTSEFCU) pleaded guilty to embezzlement in federal court Tuesday.

Jenny Nishida, 41, a former teller, stole $358,685 from the credit union. She will be sentenced in September.

Nicole Cheung, 34, a former loan officer, stole $16,732 from the credit union. She will be sentenced in August.

Both face a statutory maximum penalty of 30 years in federal prison. They have been released on bond awaiting sentencing.

Their arrests came after a seven-month investigation by the Honolulu Federal Bureau of Investigation.

The OTS Employees Federal Credit Union is the federally-insured financial institution associated with TheBus in Honolulu and provides banking services to employees.

The credit union’s CEO/manager, Gloria Omandam, said in a statement that no member suffered a loss due to embezzlement, and any loss suffered by the Credit Union has been recouped, other than investigative costs.

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