A federal court sentencing hearing has been rescheduled forAnthony Raguz, the former CEO of St. Paul Croatian Federal Credit Union in Eastlake, Ohio, whopleaded guilty for his central role in one of the largest fraudcases in U.S. credit union history.

Raguz was set to be sentenced Tuesday in U.S. District Court inCleveland. The hearing has been rescheduled for next Monday, Nov.26.

Raguz, one of 16 people charged by federal prosecutors inconnection with SPCFCU's collapse, issued more than 1,000fraudulent loans totaling more than $70 million to over 300 accountholders at SPCFCU from 2000 to April 2010. In October 2011, hepleaded guilty to six counts of bank fraud, money laundering andbank bribery.

Meanwhile, the NCUA said its projected loss in the SPCFCU caseis now at $186.4 million, down slightly from its initial projectedloss of $186.8 million.

“This number is under constant review and changes often due toongoing changes, recoveries and discoveries in the overallliquidation case,” said John Fairbanks, the agency's public affairsspecialist. NCUA closed the credit union and began itsliquidation process in May 2010.

The NCUA has filed 61 lawsuits against SPCFCU-related partiesclaiming monetary damages of more than $44 million. To date, it hasrecovered $1.2 million. The agency said it is working with the U.S.Attorney's Office to recover more than $2 million that had beendeposited into bank accounts in the Balkan Republic of Macedonia byKoljo Nikolovski.

He was another pivotal figure in the SPCFCU fraud case whopleaded guilty earlier this year to 18 counts of bribery, bankfraud and money laundering. He was sentenced to 18 years in prisonin April.

The NCUA said it also expects to recover $16.7 million from A.Eddy Zai who pleaded guilty in U.S. District Federal Court inCleveland on Nov. 5 to nine counts of bank fraud, bribery, moneylaundering for his involvement in the credit union case.

Zai, 44, of suburban Pepper Pike, conspired with others,including Raguz, to submit false loan documents to the credit unionto defraud the credit union of approximately $16.7 million. Zaialso paid bribes and kickbacks to Raguz for using his position atthe credit union to approve numerous loans to Zai and more than adozen businesses he controlled and operated.

Federal prosecutors said some of these companies were createdprimarily to operate as a “safe haven” for credit union proceeds,while others also performed little or no legitimate business.

In addition, the NCUA's liquidation efforts have so far netted$22.6 million in recoveries from all areas including loan paymentsand liquidation of cash accounts, the agency said.