Federal authorities are moving forward with foreclosing on asuburban home that they claim a former CEO paid for with $1.5million he allegedly embezzled from the shuttered TaupaLithuanian Credit Union in Cleveland.

According to court documents, a FBI special agent hand delivereda “notice of complaint for forfeiture” and other foreclosure paperson Aug. 7 to Julie A. Spirikaitis, wife of Alex R. Spirikaitis, theformer CEO of TLCU.

He has been wanted by the FBI for nearly a month on charges ofembezzlement in the failure of the $23.6 million Cleveland creditunion. The cooperative was liquidated July 12 after the NCUAdetermined the 1,154-member cooperative was insolvent.

Mrs. Spirikaitis is listed as the co-owner of the home,according to Cuyahoga County property records.

The FBI has also posted a foreclosure notice at the home inSolon, about 25 miles southeast of Cleveland. The notice gives Mrs.Spirikaitis about a month to respond to the foreclosure complaintin U.S. District Court in Akron.

In November 2012, Spirikaitis moved into the new home with hiswife and their two children, documents show. The construction ofthe home, which took a year, was first paid for with two checkstotaling $100,000 from his TLCU personal account, according toforeclosure documents initially filed last month by federal prosecutors who aim to take legal possession of thehome.

“All remaining checks – totaling approximately $1,555,132 – camefrom Spirikaitis in the form of Taupa Lithuanian Credit Unionofficial checks,” court documents state. “While working at theTaupa Lithuanian Credit Union, Spirikaitis never made in excess of$50,000. Spirikaitis did not finance the house construction.”

In court documents, however, federal prosecutors estimated thehome is valued at approximately $1 million.

Soon after TLCU was placed into NCUA conservatorship, courtdocuments state that NCUA examiners discovered Spirikaitis had used a software program, “Phantom Font,” toalter his credit union's deposit statements from the $4.5 billionCorporate One Federal Credit Union of Columbus, Ohio.

Court documents are not clear regarding exactly how much moneyis missing. As of Jan. 1, 2012, Corporate One's statement sent toTLCU showed balances of $229,984, $10,000 and $319,574 in threeaccounts, for a total of $559,468.

However, the authorities said, TLCU's December 2011 Call Reportfalsely listed $16,165,288 in assets deposited with correspondentcredit unions. The court documents did not reveal if that means$15.6 million is missing, or if TLCU had accounts at othercorporates that were left untouched.

The official charge the FBI has brought against Spirikaitis, making false credit institution entries, is anunusual one. Anderson said the charge falls under the embezzlementcategory, and because it is one that could be quickly proven, FBIofficials utilized the charge so authorities could quickly executean arrest warrant.

Still, Anderson said, authorities did not expect Spirikaitis to pose a flight risk.

The FBI now reports he may flee to Canada and was last seen inCleveland as well as the suburbs of Solon and neighboringTwinsburg.

The former credit union CEO also may go by the aliases, “MichaelR. Hess, Rudy Hess or Richard Spirikaitis,” authorities said.

Anyone with information about the whereabouts of Spirikaitis isasked to call the Cleveland FBI at (216) 522-1400 or at [email protected].