Latest charges allege Ohio men embezzled $1.9 million that led to the credit union’s collapse.
New charges from federal prosecutors include conspiracy to commit bank fraud, money laundering and making false statements.
In 2011, an NCUA examiner-in-charge reviewed a 2010 state examination of the $23.6 million Taupa Lithuanian Credit Union and said it sounded all too familiar.
The material loss report on the failed Taupa Lithuanian Credit Union reveals red flags back in 2010. The failure cost the NCUSIF $33.5 million.
John Struna got regular cash payments from former CEO Alex Spirikaitis, now faces March 10 trial.
John Struna, who had personal and business accounts at the failed credit union, received $2.5M in fraudulent transfers from former CEO Alex Spirikaitis.
Taupa Lithuanian CEO given until Jan. 19 for pre-indictment talks with federal prosecutors.
CLEVELAND—Former Taupa Lithuanian Credit Union teller Michael Ruksenas pleaded guilty Dec. 2 in U.S. District Court to conspiring to embezzle more than $481,000 from the failed credit union.
CLEVELAND — Michael Ruksenas pleaded guilty Monday as prosecutors note six more arrests to follow in Spirikaitis case.
Monday hearing set for suspect No. 2 in Cleveland CU collapse as court documents reveal cooperation, details of long-running fraud.