Former Beaver Credit Union CEO Sentenced for Embezzlement

(File Photo)
Friday, January, 21, 2022 at 7:44 AM
(Pittsburgh, Pa.) 48-year-old Stacey Shaw from Salem, Ohio, the former CEO and president of the International Brotherhood of Electrical Workers Local 712 Credit Union has been officially sentenced by the US Department of Justice to 51 months in prison followed by one year of house arrest and two years of supervised release. Shaw was charged with multiple counts of embezzlement.
Officials say that Shaw opened six different credit cards in her name in May of 2017 without approval from the board of directors and then raised the spending limit on the cards 138 times for personal purchases. In all officials say that she stole $2.1 million.
Shaw was also found guilty of willful misconduct of failing to disclose a gross income of $589,200.00 in 2018 and $1.1 million in 2019.