Former credit union president accused of embezzlement - KWWL - Eastern Iowa Breaking News, Weather, Closings

Former credit union president accused of embezzlement


MADISON, Wis. (AP) -- A federal grand jury has indicted a Wisconsin Rapids man for allegedly embezzling $635,000 from a credit union.

According to federal prosecutors in Madison, 50-year-old David Henke served as president of the Rapids Municipal Credit Union.

Prosecutors say that between November 1999 and October of last year, Henke made false entries into general ledger accounts and increased credit union members' loans without their knowledge. He also converted members' deposit certificates for his own use and used credit union checks to pay personal expenses.

Online court records didn't list an attorney for Henke. A message left at a possible residential listing for him wasn't immediately returned.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

Online Reporter:  Jamie Grey

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