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.
William Liddle already had been sentenced to 15 years in prison and ordered to pay back $25 million in restitution.
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.
AEA Federal Credit Union in Yuma, Ariz., announced today it has been notified that the FBI has filed criminal charges with the U.S. Attorney's Office alleging fraudulent actions on the part of its former vice president of business services.