Theodore J. Longust, a former business relationship manager for the $1 billion Scott Credit Union in Edwardsville, Ill., pleaded not guilty on Dec. 4 in U.S. District Court in East St. Louis, Ill. to nine felony charges of fraud, misapplication of funds and money laundering allegedly involving millions of dollars.
Longust, 50, formerly of Columbia, Ill., was indicted Nov. 18 by a federal grand jury.
The indictment alleged Longust submitted a false report that misstated loan balances and omitted loan amounts and underreported loans of more than $12 million. Longust submitted the report to Scott President/CEO Frank A. Padak and Chief Lending Officer Craig Burkhard last year, according to the indictment.
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