Another defendent has been sentenced to prison for defrauding more than $3 million in a $70 million fraud case that led to the collapse of the St. Paul Croatian Federal Credit Union in 2010.
Aziz Ukshini was sentenced Wednesday to three and a half years in federal prison by U.S. District Court Judge Christopher Boyko in Cleveland. Ukshini also was ordered to pay more than $3 million in restitution to NCUA.
More than 20 people have either been indicted or imprisoned for their involvement in the St. Paul Croatian FCU case, one of the largest fraud cases in credit union history.
Ukshini, of the Cleveland suburb of Westlake, pleaded guilty in December to fraud, bribery and money laundering.
From 2003 to 2010, federal prosecutors charged Ukshini fraudulently obtained $2.8 million in loans through Anthony Raguz, SPCFCU’s president/CEO, according to court records.
Raguz is serving a 14-year prison term for making more than 1,000 fraudulent loans totaling $70 million to borrowers who had no intention to repay the funds.
Prosecutors also said Ukshini bribed Raguz with $90,000 to obtain loans and laundered $75,000.