A close-up look at a dozen cases by insiders and members that cost credit unions more than $185 million, and often, their very existence.
The controversies involving the liquidated St. Paul Croatian Federal Credit Union continue, with a 32-count complaint filed May 21 in U.S. District Court in Cleveland by the NCUA.
Agency seeking more than $18.9 million in fraudulent loans and damages from businessman, wife, father-in-law in Cleveland credit union collapse.
An Ohio church has alleged the NCUA staff committed fraud when they did not allow it to withdraw its funds from the failing St. Paul Croatian Federal Credit Union before the credit union was placed into conservatorship.
An Ohio church has alleged NCUA staff committed fraud when they did not allow it to withdraw its funds from the failing St. Paul Croatian Federal Credit Union.
More than a year after St. Paul Croatian Federal Credit Union was conserved and liquidated because of losses from fraud, there have been indictments, federal and international investigations and money hunts, and a lawsuit against the NCUA.
The troubles at Nevada’s Silver State Schools Credit Union, which include a 2% pay cut in September, reverberated across the state again last week.
Indictments added to nine already charged in Cleveland credit union failure.
The U.S. Department of Justice has indicted nine people, six men and three women, for fraud, bribery and money laundering in connection with the collapse of the $239 million St. Paul Croatian Federal Credit Union.
A federal grand jury indicted a St. Paul Croatian FCU member for bank fraud and money laundering that cost the credit union $2.5 million and led to its eventual closing.