John Struna, who had personal and business accounts at the failed credit union, received $2.5M in fraudulent transfers from former CEO Alex Spirikaitis.
As mobile banking goes mainstream, credit unions should adjust security standards so access is on par with brick and mortar.
I've been in the credit union industry for my entire career. In fact, I've been writing about credit unions even before I had a career, as my first credit union gig was a college internship.
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.
New competitors, old products, balky regulators and a whole new generation of disintermediated consumers could spell disaster.
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.
Former teller accused of embezzling $480,000 while working for CEO Alex Spirikaitis.
Credit unions talk a good game about wanting to serve low-income populations.
Credit unions talk a good game about wanting to serve low-income populations. But do they really? And would regulators let them?