(Indianapolis) – A former credit union executive from eastern Indiana will spend two years in federal prison after admitting to a fraudulent loan scheme that prosecutors say abused his position of trust to fund personal expenses, including the purchase of a home.
Daniel Johnson, 37, of Centerville, was sentenced Wednesday to 24 months in prison by U.S. District Judge Richard L. Young. The sentence also includes two years of supervised release and an order to pay $285,855.66 in restitution.
According to court records, Johnson exploited his role as chief executive officer and manager of Richmond City Employees Federal Credit Union in late 2021 by securing two $150,000 loans through false pretenses. While credit union policy allowed executives to apply for loans, approval from the institution’s board of directors was required…