NORTON SHORES (WKZO-AM) — The former CEO at a west Michigan credit union will spend the next six-and-a-half years in a federal prison for siphoning $1.9 million out of creditors’ accounts and into her own pockets.
Kathryn Simmerman was a star at Shoreline Federal Credit Union in Norton Shores. She had worked her way up from teller to chief executive officer and was one of the most trusted people there.
Prosecutors say she had been depositing cash into accounts held by family members for years while cooking the books to fool auditors.
Judge Robert Holmes Bell said she didn’t do it to take care of an aging mother or family crisis, but to buy boats and take cruises.
She was ordered to immediately report to prison.
– John McNeill
