Bujar Sejdic of Ottawa, Ill., will spend the next two years infederal prison for fraud involving $1.6 million of the $70 millionSt. Paul Croatian Federal Credit Union fraud case inCleveland.
|Sejdic was also ordered to pay $1.6 million in restitution toNCUA by Judge Christopher A. Boyko in U.S. District Court inCleveland on Tuesday. Sejdic pleaded guilty in October to financialfraud, kickbacks and money laundering.
|An indictment showed Sejdic gave former SPCFCU CEO Anthony Raguz$40,000 to reward him for providing the fraudulent loans from theEastlake, Ohio, credit union that collapsed in April 2010. Federalprosecutors also charged that Sejdic illegally transferred $240,000from SPCFCU accounts to a bank in Belgrade, Serbia.
|Raguz was sentenced to 14 years in federal prison in Novemberfor his central role that led to one of the largest fraud cases inU.S. credit union history.
|The former CEO admitted to approving more than 1,000 fraudulentloans totaling $70 million to over 300 account holders at thecredit union from 2000 to 2010. He also accepted bribes totaling $1million to approve loans, according to court documents.
|According to The Times newspaper in Ottawa, Sejdic isthe owner of the Sunfield Restaurant, which opened July 2010. Atthe time, he told the newspaper he operated another restaurant inRockford, Ill.
|Sejdic is expected to serve his prison term at the federalprison in Pekin, Ill., according to court records.
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