SIOUX CITY -- The former manager of a Denison, Iowa, credit union has been charged with embezzling nearly $1.5 million from the institution.
Janine Keim was indicted Tuesday in U.S. District Court in Sioux City of embezzlement by a credit union employee and making false statements.
She is accused of working with at least one other employee to embezzle or misapply $1,486,647 at Consumers Credit Union, now known as Cobalt Credit Union, from May 2012 through March 2018. Court documents said that Jensen and others took, withdrew or misused money from the credit union with the intent to defraud the institution.
Keim then filed false reports to auditors and administrators to conceal the amount of missing money, according to the indictment.
The credit union's former head teller, Brenda Jensen, 53, of Denison, pleaded guilty in October in federal court to embezzlement. She awaits sentencing.