Two years ago, AEA Federal Credit Union’s future looked bleak as it nearly succumbed to the greed of a lending officer who took the cooperative to the brink of collapse.
This in-depth look at a conserved and now recovering Arizona credit union is a preview from next week's print edition of Credit Union Times.
After a two-week trial that included several witnesses testifying against each other, a jury found William Liddle, a former loan officer at AEA Federal Credit Union, guilty of several counts of fraud and money laundering.
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.
A jury is currently hearing testimony in the case involving William Liddle, who was allegedly involved in a loan kickback scheme.
A new series from the Georgia Department of Banking and Finance addresses the role of boards of directors at credit unions and banks.
January 2012 is the scheduled date for an alleged business loan fraud case involving AEA Federal Credit Union.
Signs that AEA Federal Credit Union was in trouble started well before its former executive was recently indicted for an alleged kickback ring with ties to a portfolio now crumbling under the weight of defaulted loans.
An 11-month federal investigation has revealed that a former vice president of business services at AEA Federal Credit Union in Yuma, Ariz., was allegedly one of the persons behind the approval of business loans in an apparent $1 million kickback scheme.