OT: If you gonna steal, go all out ($95 million)....

Aug 15, 2011
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Maybe Kaiser Wilhem, but is anybody else keeping up the Jackson Credit Union fiasco? The president apparently stole $95 million over the past decade. I'm wondering who all is going to get caught up in this mess? There's no way no one smelled something rotten about the lifestyle this couple was living, especially with the amount of money being spent at local businesses. They even had their house published in Mississippi Magazine. Nothing like showing off all the stolen goods for everyone to see.

https://kingfish1935.blogspot.com/2026/06/diamonds-steinways-beaches-case-of-95.html
 

She Mate Me

Heisman
Dec 7, 2008
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Saw this story and meant to dig into it.

That is an incredible amount of money for what I assume can’t be a huge financial institution.

eta So apparently this institution had $162 million in assets and they stole over $90 million. That is unbelievable. They must have had absolutely no internal controls. People had to know what was going on.
 
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TheBannerM

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Nov 30, 2024
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Inside the Meeting That Exposed a $95 Million Credit Union Fraud

She concealed the transfers of funds by manually entering deceptive but plausible titles for the ACH deposits into her account that appeared to be legitimate. She also manually altered the month-end corporate reconciliations to show items in transit for the missing funds and then altered figures on the CACU statements to show the items clearing properly.

When asked if other credit union employees would have access to create fictitious records, Bridges said no. She also denied manipulating other member accounts and fraudulently removing funds through other methods.
 

johnson86-1

All-American
Aug 22, 2012
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Saw this story and meant to dig into it.

That is an incredible amount of money for what I assume can’t be a huge financial institution.

eta So apparently this institution had $162 million in assets and they stole over $90 million. That is unbelievable. They must have had absolutely no internal controls. People had to know what was going on.
I think that $90M+ is the shortfall, not necessarily what they stole. Presumably when they were stealing the money, they were also doctoring the books to show some sort of investments with deposits that were not loaned out (I don't know what credit unions do, I assume something like tbills unless they have larger credit unions they can place deposits that are not needed for liquidity and earn interest on them). So if they've been stealing since before covid, that could be 15-20% of the total is earnings that they had to show to cover their tracks that didn't actually exist.

Not sure that really makes a big difference, other than showing that they really, really can't pay back what is missing, because even if they could get close to what they paid by reselling all of the **** they bought, they're still going to be millions short.

Also, does anybody know how Mississippi's homestead act applies when the home was purchased with stolen money? Do they still get some protection?
 
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Wesson Bulldog

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Nov 3, 2015
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I
Maybe Kaiser Wilhem, but is anybody else keeping up the Jackson Credit Union fiasco? The president apparently stole $95 million over the past decade. I'm wondering who all is going to get caught up in this mess? There's no way no one smelled something rotten about the lifestyle this couple was living, especially with the amount of money being spent at local businesses. They even had their house published in Mississippi Magazine. Nothing like showing off all the stolen goods for everyone to see.

https://kingfish1935.blogspot.com/2026/06/diamonds-steinways-beaches-case-of-95.html
I graduated high school with Leigh.
 

johnson86-1

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Aug 22, 2012
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How can someone with enough sense to work up to this spot in even a small financial institution have absolutely no exit plan for something so brazen and just plain 17ing stupid?

Not to mention the basic lawlessness of it. Pillars of their little community I’m sure.
Did you no see the part about the money transferred to Coinbase? Not their fault they invested in Dogecoin instead of Bitcoin.**

It is insane that not only one person was that stupid, but she and her husband.
 
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MagicDawg

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Nov 11, 2010
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Oh my gosh. I think I went to school with Chad and his brother. Apparently Chad went to Belhaven.
 

GloryDawg

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Mar 3, 2005
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We had a guy who was over maintenance of our building. He could approve payment of invoices up to $5000.00. He set up fake LLC and summitted invoices for them. Not sure how much he got but he did get caught.
 

ReverseCowbell

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Oct 31, 2022
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Maybe Kaiser Wilhem, but is anybody else keeping up the Jackson Credit Union fiasco? The president apparently stole $95 million over the past decade. I'm wondering who all is going to get caught up in this mess? There's no way no one smelled something rotten about the lifestyle this couple was living, especially with the amount of money being spent at local businesses. They even had their house published in Mississippi Magazine. Nothing like showing off all the stolen goods for everyone to see.

https://kingfish1935.blogspot.com/2026/06/diamonds-steinways-beaches-case-of-95.html
And for what? For a little bit of money. There's more to life than a little money, you know. Don't you know that? And here ya are, and it's a beautiful day. Well, I just don't understand it.
 

paindonthurt

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And where were the auditors, Board of Directors, management, etc when this stealing was happening. Amazing.
Well I imagine that’s how they ended up catching her, which was gonna be my point when I came here to post.

And before some dipsh1t chimes in read it all.

All theft is bad, but why the 17 are people like this so stupid. She could have probably gotten away with say $1 or $2 million over 10 years. Maybe double that. But how does a CFO/accountant not realize you can’t hide that much money?
 

johnson86-1

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Aug 22, 2012
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Talk about brazen, she has pictures of multiple Birkin Bags in the Mississippi Magazine spread. For those that don't know they start at $30K and go way into the six-figures from there.

All theft is bad, but why the 17 are people like this so stupid. She could have probably gotten away with say $1 or $2 million over 10 years. Maybe double that. But how does a CFO/accountant not realize you can’t hide that much money?

And for what? For a little bit of money. There's more to life than a little money, you know. Don't you know that? And here ya are, and it's a beautiful day. Well, I just don't understand it.

It probably shouldn't be, but really the most disgusting thing about this to me is how they spent the money. They risked trading their life (really more or less guaranteeing it, but just assume they possibly could have gotten away with it), and they did it for what in the grand scheme of things, are 17ing trinkets. Expensive purses and decorations. If you are going to steal, at least do it to buy the freedom to have a nice lifestyle and experiences indefinitely. The stole tens of millions of dollars, and unless they have some offshore bank accounts (which I sort of doubt based on how unsophisticated they seem to be), outside of the real property, they probably couldn't even retire to a more than middle class lifestyle if they miraculously got to keep all the **** and not go to jail. The piano and birkins probably have good resale value for used goods, maybe some of the jewelry they can get half what they paid for it, probably more like 25% as I doubt they were shopping for good deals with other people's money, the cars are at whatever depreciation they're at now. It looks like they'd be working to scrape together a million or two excluding the real estate.

Also, forget auditors, where the 17 were the board members? They presumably knew what they paid her. Unless she had put out a story about inheriting family money or that her husband had some successful business, how did they think she was funding her lifestyle?
 

paindonthurt

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It probably shouldn't be, but really the most disgusting thing about this to me is how they spent the money. They risked trading their life (really more or less guaranteeing it, but just assume they possibly could have gotten away with it), and they did it for what in the grand scheme of things, are 17ing trinkets. Expensive purses and decorations. If you are going to steal, at least do it to buy the freedom to have a nice lifestyle and experiences indefinitely. The stole tens of millions of dollars, and unless they have some offshore bank accounts (which I sort of doubt based on how unsophisticated they seem to be), outside of the real property, they probably couldn't even retire to a more than middle class lifestyle if they miraculously got to keep all the **** and not go to jail. The piano and birkins probably have good resale value for used goods, maybe some of the jewelry they can get half what they paid for it, probably more like 25% as I doubt they were shopping for good deals with other people's money, the cars are at whatever depreciation they're at now. It looks like they'd be working to scrape together a million or two excluding the real estate.

Also, forget auditors, where the 17 were the board members? They presumably knew what they paid her. Unless she had put out a story about inheriting family money or that her husband had some successful business, how did they think she was funding her lifestyle?
Yeah you could have embezzled $150,000 a year for 10 years and had $2 milly plus in an offshore account.

If you get caught, bounce.
If you don’t, retire early.
 
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