Salem woman sentenced for embezzlement
PITTSBURGH, Pa. — A Salem woman has been sentenced to more than four years in federal prison for embezzling $2.1 million from a federal credit union in Beaver, Pa., along with failing to file tax returns.
According to a press release issued by United States Attorney Cindy K. Chung of the Western District of Pennsylvania, 48-year-old Stacey Shaw, whose address was previously listed in Pennsylvania, recently appeared for sentencing before U.S. District Court Judge Marilyn J. Horan.
Besides 51 months of imprisonment, the sentence includes 12 months of home detention as part of a three-year term of supervised release for embezzlement and willful failure to file tax returns.
The press release said Shaw was the President and CEO of the International Brotherhood of Electrical Workers, Local Union 712, Federal Credit Union when she opened six unauthorized credit cards in her name. After opening the credit cards, Shaw, without authorization, repeatedly raised the credit limits on the cards over the course of approximately three years.
By the time what she had done was discovered, Shawn had accumulated a total outstanding balance of approximately $2.1 million on the credit cards. The loss to the credit union caused the institution in existence since 1964 to permanently close and liquidate.
Assistant United States Attorney Lee J. Karl prosecuted the case and Chung commended the Federal Bureau of Investigation and Internal Revenue Service for the investigation that led to Shaw’s successful prosecution.