In the latest update involving AEA Federal Credit Union, a judge has rejected claims from a real estate developer that the NCUA-conserved cooperative is still responsible for funding his projects.
Prosecutors recommend developer get year in prison, probation after testifying against former credit union lending officer.
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.
Faces sentencing in October; admits paying kickbacks for $22 million in loans for now failed kids park and nightclub.
Former vice president, wife, associate accused in apparent $1 million kickback scheme.
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.
More than $25 million in alleged fraudulent loans authorized by William Liddle, the former vice president of business services at AEA Federal Credit Union, are now in default