Former Bank President Ordered To Pay $2.3M In Restitution

PHOENIX, AZ — A Gilbert woman was ordered Monday to pay more than $2.3 million in restitution after embezzling more than $2.2 million from Winslow Santa Fe Credit Union, where she had worked for many years in leadership roles.

In addition to paying restitution, Susan Irene Romero, 64, was sentenced to 26 months in prison. Romero pleaded guilty to embezzlement of credit union funds last May, according to a news release from the U.S. Attorney’s Office, District of Arizona.

Through a plea agreement, Romero admitted to embezzling more than $2.2 million over many years from the credit union where she worked in roles including manager, president and CEO.

Romero's embezzling was discovered through a routine audit, the U.S. Attorney's Office said.

Romero stole the money through "unauthorized cash withdrawals, checks issued with forged signatures of other employees, and transfers from the credit union account to her family members’ accounts," the attorney's office said in a news release.

She covered up the discrepancies by making false entries in the credit union's financial statements, the attorney's office said.