NewsCovering Louisiana


Ex-loan officer pleads guilty to loan fraud

Posted at 10:33 AM, Sep 11, 2019
and last updated 2019-09-11 11:33:07-04

ALEXANDRIA, La. (AP) - A Louisiana woman has pleaded guilty to authorizing fraudulent loans, which cost her former employer almost $250,000.

A press release from U.S. Attorney David Joseph says 48-year-old Cynthia J. Feazell plead guilty Tuesday and faces 30 years in prison, five years of supervised release, restitution and a $1 million fine.

The release says Feazell was a loan officer and assistant manager for Valex Federal Credit Union from 1997 to 2016. It says when Feazell didn't get approved for a loan to purchase a mobile home in 2015, she transferred three car loans out of her name and into her mother's name in order to qualify.

The release says Feazell also authorized loans for her ex-husband knowing that he didn't meet Valex's credit requirements.

Feazell's sentencing date is in December.