Former North Carolina Branch Manager Faces December Sentencing

June 30, 2020 by Peter Strozniak

A former branch manager at the $89.9 million Welcome Federal Credit Union will be sentenced in December for embezzling at least $645,000 from the Morrisville, N.C.-based credit union.

Johnnie Earl Harrell, 47, pleaded guilty Wednesday in U.S. District Court in Wilmington to theft and embezzlement, according to court records.

While working at the branch in Zebulon from 2008 to 2019, he convinced members to roll over their retirement accounts into annuities, but he never purchased the annuities and stole the funds for his own personal use, federal prosecutors said in a prepared statement.

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Originally Posted at Credit Union Times on June 25, 2020 by Peter Strozniak.