Falsely obtaining property of credit union

(1) Any person who obtains possession of any property of, or is granted any loan by, a credit union by false representation or other corrupt means or wrongfully withholds or misapplies any such property or loan or wilfully applies any part thereof to purposes other than those directed or expressed in the by-laws of such credit union or authorized under this Act or the rules, is liable on summary conviction to a fine not exceeding five thousand dollars and to imprisonment for a term not exceeding one year, and on conviction on indictment to imprisonment for a term not exceeding five years. (2) In any proceedings under this section, the person accused may, in addition to any penalty imposed, be ordered to deliver up any property or repay any sum of money to which the proceedings relate and pay the cost of the proceedings.