On Friday, the president of the FAMU Federal Credit Union and former director of FAMU’s Institute on Urban Policy and Commerce were convicted on three counts of conspiring to embezzle U.S. Department of Housing and Urban Development (HUD) grant funds.Eugene Telfair and Robert Nixon were both found guilty of conspiracy, theft from an organization receiving federal funds, and embezzlement of funds entrusted to a federally-insured credit union.
According to the charges filed by the U.S. District Attorney's Office of the Northern District of Florida, between 2005 and 2008, Telfair, the president of the FAMU Federal Credit Union, and Nixon, the former director of FAMU’s Institute on Urban Policy and Commerce, conspired to steal approximately $134,253 in grant funds that had been awarded to FAMU in connection with HUD’s Historically Black Colleges and Universities program.