Morgan City man pleads guilty to stealing $90K from nonprofit

A Morgan City man has pleaded guilty to stealing over $90,000 in loan money from a federally funded nonprofit in New Iberia, according to a Tuesday news release from U.S. Attorney Stephanie Finley of the Western District of Louisiana.
Timothy Daigle, 32, of Morgan City, La., pleaded guilty before U.S. District Judge Richard T. Haik to one count of fraud concerning program receiving federal funds. According to the guilty plea, while working as a loan officer and agent at the nonprofit Southern Mutual Help Association in New Iberia, Daigle stole more than $90,000, the release said. On four separate occasions from September 2013 until February 2014, Daigle, acting as an agent of the association, helped to fraudulently approve loans in the names of friends and associates in New Iberia and Morgan City, the release said.
Daigle faces up to 10 years in prison, three years of supervised release, a $250,000 fine and restitution. A sentencing date was not set, the release stated.
The FBI investigated the case. Assistant U.S. Attorneys David C. Joseph and Kelly P. Uebinger are prosecuting the case, according to the news release.