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Local sentenced for embezzlement

Former vice president of Lockheed Federal Credit Union to go to prison, repay more than $830,000

Posted: February 11, 2010 9:48 p.m.
Updated: February 12, 2010 4:55 a.m.
 
A federal judge this week sentenced a Castaic man to 41 months in prison for embezzling more than $830,000 from the Lockheed Federal Credit Union while he served as a vice president to the organization.

Milton W. Callan, 60, will also have to pay $831,764 in restitution, federal Judge Dale Fischer ordered.

Callan pleaded guilty last year to opening corporate credit accounts to buy electronics, gift cards, food and furniture, according to an FBI statement.

He kept some of the goods, and returned others for cash refunds.

The stores sent the resulting monthly credit card bills to the credit union, where Callan directed mailroom workers to bring them directly to him.

The credit union discovered the scheme and alerted the FBI.

Callan later pleaded guilty to one count of embezzlement by a credit union employee.

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