CHICOPEE, Mass. — The body of Douglas L. Smith, one of those indicted in the fall of D. Edward Wells Federal Credit Union, was found in the Chicopee River on Jan. 16.
The Republican, a local news outlet, reported that Smith, 46, disappeared Nov. 26, apparently after capsizing a canoe he borrowed to save his own from floating away. A pending autopsy will provide an official cause of death.
Smith had been indicted along with his mother–former D. Edward Wells Manager Carol Aranjo–and father for embezzling more than $1 million from the tiny community development credit union.
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Aranjo, her husband, and Smith were charged in an 86-count indictment to embezzle $1.3 million from the now defunct D. Edward Wells Federal Credit Union; all three pleaded innocent in the Springfield U.S. District Court. The next hearing was scheduled for Feb. 2.
The Republican quoted Michael G. O'Reilly, chief of the FBI's Springfield office, calling Smith's death a "tragic event." O'Reilly said the indictment against Smith will be dismissed.
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