Authorities investigating $10 million embezzlement from Parsons-Pittsburg Credit Union

By: Associated Press Email
By: Associated Press Email

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Wichita, Kan. (AP) -- The investigation into $10 million in missing deposits from the former Parsons-Pittsburg Credit Union has focused on a fired employee believed to have gambled with the credit union's money.

Documents filed last week in federal court reveal the magnitude of losses that led the Kansas Department of Credit Unions in January to place the credit union into conservatorship. Golden Plains Credit Union of Garden City assumed its operations in March.

An FBI affidavit says the majority of the missing deposits were diverted from credit union accounts to accounts controlled by the suspect. According to the affidavit, records showed the suspect spent more than $190,000 at casinos in Oklahoma and Missouri between mid-January and early March.

The Associated Press is not identifying the ex-worker because no criminal charges have been filed.

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