After fraud is uncovered at a credit union, it typically takes several months for the FBI to conduct an investigation and file charges.
However, in one suspected $10 million credit union embezzlement case, three years have gone by without an indictment.
At least one former board member is puzzled over why the case has not been prosecuted, though some experts say this case may never be. Nevertheless, an FBI spokesperson said the investigation is ongoing, but she declined to comment whether an indictment was imminent.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 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.
