Columbia woman pleads guilty to embezzling from credit union
JEFFERSON CITY - A Columbia woman pleaded guilty Thursday in federal court to embezzling $231,600 from her employer, Shelter Insurance Federal Credit Union.
Debra L. Wenger, 62, waived her right to a grand jury and pleaded guilty charges she misappropriated funds, according to a news release from the U.S. Attorney's Office.
Wenger began working for Shelter Insurance Companies in 1972. In 1988, she transferred to Shelter Insurance Federal Credit Union, according to a news release. She worked as an administrative assistant, assumed all accounting responsibilities and served as a teller.
An external auditor discovered the misappropriation of funds in February 2016. Auditors noted a discrepancy when comparing the general ledger teller cash to the cash balancing sheet, according to the release.
Shortly after the discrepancy was discovered, Wenger met with Columbia police and confessed that she had misappropriated the funds in question, the release said. Wenger admitted she took cash from her teller drawer and deposited it into her personal bank account.
An internal audit by the company found the total amount of misappropriated funds to be $231,600.
Wenger faces up to 30 years in federal prison without parole. According to the release, a sentencing hearing will be scheduled after a pre-sentence investigation.