Alex Spirikaitis has been given a second extension to give him and his lawyer more time to conduct pre-indictment negotiations with federal prosecutors over the former CEO's alleged role in a multimillion dollar fraud case that led collapse of the $23.6 million Taupa Lithuanian Credit Union in Cleveland.

U. S. Magistrate Judge Kenneth McHargh in Cleveland extended the Dec. 20 indictment deadline to Jan. 19, according to court records filed Tuesday.

Because Spirikaitis waived his right to a preliminary hearing on Oct. 22, his case was bound over to the federal grand jury for an indictment. The grand jury had a Nov. 20 deadline to return an indictment against him. Federal law requires a federal grand jury to return an indictment within 30 days after a suspect has been arrested and charged.

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