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More than $10 million may have been embezzled from the $23.6 million Taupa Lithuanian Credit Union in Cleveland.

That’s according to unsealed court documents in the case against former President/CEO Alex R. Spirikaitis, who was an FBI fugitive for more than three months before his arrest Monday and initial court appearance Tuesday.

The small credit union was liquidated by the NCUA in July. Authorities have seized Spirikaitis’ million-dollar home in the Cleveland suburb of Solon, and documents revealed Tuesday also said the former credit union executive had a cache of semi-automatic weapons and thousands of rounds of ammunition stored at the credit union when it was searched.

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Peter Strozniak


Credit Union Times

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