A Toledo, Ohio woman who embezzled more than $2 million from a small credit union in Michigan was sentenced on Thursday.
Sharon Broadway, 62, is required to serve at least 45 months in prison. She initially faced up to 20 years for felony embezzlement and racketeering charges. The financial institution that she worked at closed in August 2012 for being insolvent.
The presiding judge in Monroe County also demanded that she pay $2,598,000 in restitution. From now on, she is prohibited from working in the financial industry.
Broadway’s defense attorney said, “She’s very apologetic for what happened and how she’s let so many people down.”
According to authorities, Broadway stole from the Temperance, Mich. credit union for almost 30 years. She used to work there as a manager, secretary and even a board member. Those who are familiar with the case say that she covered up her misdeeds by not recording certificates of deposit in credit union books. Her embezzlement scheme was discovered during an inspection by regulators.
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