Man Admits Stealing More Than $400K From Police Credit Union
PORTLAND, Maine - Federal prosecutors say a Portland man has pleaded guilty in court to embezzling more than $400,000 from police credit union accounts.
Prosecutors say 69-year-old John C. Barry pleaded guilty to embezzlement and making false entries in credit union records. Court records say he was the manager of the Portland Police Department Federal Credit Union when he transferred funds from credit union accounts into his and his family members' accounts.
The records say the embezzlement happened between 2009 and the end of 2013.
Prosecutors say Barry also caused false quarterly reports to be filed that overstated the credit union's net worth. Barry faces up to 30 years in prison and a $1 million fine for each charge. The Federal Bureau of Investigation conducted the investigation.