Another person was charged Wednesday by Cleveland federal prosecutors for allegedly embezzling nearly $1 million from the St. Paul Croatian Federal Credit Union, which was liquidated by the NCUA in 2010 after the Eastlake, Ohio, cooperative lost more than $170 million.
A six-count federal indictment charged Joe Spaqi, 60, of Cleveland of four counts of financial institution fraud and two counts of money laundering, according to Steven M. Dettelbach, U.S. Attorney for the Northern District of Ohio.
Spaqi, who was arrested by federal agents Wednesday, allegedly aided and abetted Anthony Raguz, the former president/CEO of St Paul Croatian, and a relative identified only as P.S., in a scheme to defraud the credit union between 2005 and 2009.
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