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To explain how he was able to afford a $4.5 million home on a $65,000 annual salary, the former CFO of Clarkston Brandon Community Credit Union told his wife that he was getting big returns from stock investments. He told credit union colleagues that he got a big inheritance. 

In reality, Michael Anthony LaJoice (pictured in his mugshot here) supported his wealthy lifestyle with the $20 million he allegedly embezzled from the $68 million, Clarkson, Mich.-based cooperative over 12 years.

On Monday, the FBI’s Detroit office confirmed it was involved in the criminal investigation launched by detectives with the Oakland County Sheriff’s office in Pontiac, Mich.

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Peter Strozniak


Credit Union Times

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