Federal prosecutors have pieced together a massive fraud scheme that siphoned $15 million over 17 years by three members, three employees and former President/CEO Alex R. Spirikaitis of the collapsed Taupa Lithuanian Credit Union in Cleveland.
Spirikaitis himself used embezzled credit union funds for a luxury suite at Cleveland Browns games, a $1.6 million home and an arsenal of semi-automatic weapons and more than 10,000 rounds of ammunition that he hid in the credit union's office.
In court documents, federal prosecutors detail how the embezzlement was carried out and how Spirikaitis concealed the seven-person conspiracy ring from auditors, the board of directors and members for so many years.
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