In re the Claim of Spencer

Appeal from a decision of the Unemployment Insurance Appeal Board, filed June 27, 1996, which, upon reconsideration, adhered to its prior decision ruling that claimant was entitled to receive unemployment insurance benefits.

Claimant was employed as a senior vice-president and chief auditor when the employer bank granted her a personal loan of $45,000 based upon her representation that she needed it to discharge a money judgment. Although claimant concedes that she cited the money judgment as the reason for the loan, the loan application filled out by claimant and her husband stated that the…