Business Loan Fraud Cases Advance
Two major credit union cases involving business loan fraud made news over the past week.
A jury is currently hearing testimony in the case involving William Liddle, former lending officer at AEA Federal Credit Union, who was allegedly involved in a loan kickback scheme.
Meanwhile, the recent indictment of a real estate developer that allegedly obtained loans under false circumstances has brought Denali Alaskan Federal Credit Union some relief.
Lee Baker Jr. has been charged with 14 counts including fraud and money laundering for making false statements to secure loans from the $444 million credit union in Anchorage. He is facing a maximum penalty of 30 years in prison and a $1 million fine.