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Former Teller Pleads Not Guilty To Embezzling Charges

Last updated on Friday, November 23, 2007

(NEW ALBANY) - A former Southern Indiana credit union teller facing federal charges of embezzling more than seven million dollars has pleaded not guilty.

Investigators say 49-year old Patricia H. Sherman took stacks of bills from the Obelisk Federal Credit Union in New Albany from may 2003 to last March, when she was fired.

Court records state that the amounts varied from a few thousand dollars to as much as $100,000 or more. Authorities believe she spent much of the money gambling at casinos.

She concealed the embezzlement by altering the credit union's vault cash records whenever there was an audit.

Because of the loss, the credit union was placed in conservatorship and later merged with another credit union.

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