Credit union CEO gets sentence, fine

Lawrence resident Mark E. Kasson, former chief executive of Credit Union Group, on Tuesday was sentenced to three months in prison followed by two years of supervised release. Kasson in May pleaded guilty to a federal charge of making false entries in the company’s financial records.

In making the plea, Kasson admitted to falsifying the company’s records to show that $3 million in loans had been sold to other credit unions to make it look like Credit Union Group was no longer responsible for the money. The Credit Union Group is affiliated with Free State Credit Union in Lawrence.

He made the fake entry Jan. 10, 2006, at a time when the Kansas Department of Credit Unions and National Credit Union Administration Board would be reviewing the company’s records.

Kasson appeared before Senior Judge Sam Crow in U.S. District Court in Topeka. The court recommended Kasson be placed at a minimum security facility in Tucson, Ariz. Kasson also received a $1,000 fine.