A judge has rejected claims from a real estate developer that the NCUA-conserved AEA Federal Credit Union 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.
According to its latest NCUA Call Report data, AEA Federal Credit Union has received a $20 million subordinated note.
A jury is currently hearing testimony in the case involving William Liddle, who was allegedly involved in a loan kickback scheme.
Nearly a year after AEA Federal Credit Union was placed under NCUA conservatorship, the financial institution is in court trying to recover some of the funds it allegedly lost in millions of dollars of soured business loans.
Faces sentencing in October; admits paying kickbacks for $22 million in loans for now failed kids park and nightclub.
A new series from the Georgia Department of Banking and Finance addresses the role of boards of directors at credit unions and banks.