A former business relationship manager of the $1 billion Scott Credit Union in Edwardsville, Ill, will be arraigned in U.S. District Court Dec. 4 to face nine felony charges of fraud, misapplication of funds and money laundering involving millions of dollars.
Theodore J. Longust, 50, formerly of Columbia, Ill., was indicted Wednesday by a federal grand jury.
The indictment alleged Longust submitted a false report that mis-stated loan balances and omitted loan amounts and underreported loans of more than $12 million. Longust submitted the report to Scott Credit Union President/CEO Frank A. Padak and Chief Lending Officer Craig Burkhard last year, according to the indictment.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
