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SchoolsFirst FCU's Irvine, Calif. branch is pictured above.

Dave Lugo, a former IT executive who embezzled millions from the $11.1 billion SchoolsFirst Federal Credit Union to buy and sell computer equipment, will start his 51-month federal prison sentence on June 22.

Lugo, 41, was ordered to pay restitution of $2.6 million and serve two years of supervised release after serving his prison term by U.S. District Court Judge Josephine L. Staton in Santa Ana, Calif. on May 22, according to court documents.

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Peter Strozniak


Credit Union Times

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