A former assistant branch manager of a Beaumont credit union is facing federal prison after the U.S. Attorney’s Office for the Eastern District of Texas claims he stole $1.3 million.
Billy Ray Thomas, Jr., 40, of Winnie, worked for Neches Federal Credit Union from 2005 until his resignation in 2018, according to federal prosecutors. During that time, up to thirty credit union customers began noticing loans on their accounts that they had not applied for, and it was discovered that Thomas was pocketing the money.
On Monday, Thomas stood before U.S. District Judge Marcia Crone and pled guilty to a charge of bank fraud conspiracy. She sentenced him to two years and ten months in federal prison and ordered him to repay the $1.3 million in restitution.
