William and Rhonda Liddle convicted in Arizona business loan case.
Two major credit union cases involving business loan fraud made news over the past week.
According to its latest NCUA Call Report data, AEA Federal Credit Union has received a $20 million subordinated note.
A jury is currently hearing testimony in the case involving William Liddle, who was allegedly involved in a loan kickback scheme.
The Yuma, Ariz.-based, $229 million AEA FCU faces millions of dollars in bad loans and a relatively poor net worth ratio, according to its most recent Call Report from the NCUA.
PORTLAND, Ore. — When a loan officer was arrested and charged with participating in a business loan kickback scheme that ultimately led to AEA Federal Credit Union’s conservatorship in December 2010, the cooperative’s outcome looked bleak.
Altura in California, AEA in Arizona back in black after earlier losses.
Two of NCUA’s sand state conservatorships appear this week to be on positive but differing financial tracks.