Couple who managed CU sentenced for $2 million embezzlement

first_img continue reading » A Minnesota couple, who managed a credit union, were each sentenced Tuesday for embezzling $2 million from it to support three successful businesses.Nkajlo Vangh, 61, was sentenced to seven and a half years in federal prison, and his wife, True Yang Vangh, 52, was sentenced six years by U.S. District Court Judge Franklin Noel in Minneapolis. They were also ordered to pay restitution of $1.7 million and four years of supervised release after serving their prison sentences. They both pleaded guilty in May to one felony count of aiding and abetting bank fraud.The Vanghs were Laotian refugees who fled their war-torn nation in the 1970s and eventually made their way to the U.S. and settled in Rosemount, Minn.Mr. Vangh was the president and board chair for the Hmong American Federal Credit Union since it opened in 1984, which served the Laotian community in Minneapolis. Mrs. Vangh worked as the manager of the credit union from 2001 to 2011 when it was liquidated by the NCUA. 10SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img