MINNEAPOLIS — Richard Lange, the former president of the $57 million First Community Credit Union, has been indicted on embezzlement and money laundering charges, according to documents filed with the Federal District Court in Minneapolis.

The court papers show that the indictment has been unsealed, but no details have yet become available. According to a source familiar with the situation, Lange was dismissed from the CU in December 2004 under a cloud of allegations of misappropriation of funds. He had been president of the CU for 27 years.

 

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