The NCUA said Tuesday it banned three former credit union employees who were convicted of embezzlement, theft or fraud.
The federal agency also banned a fourth former credit union employee who was not convicted of a crime but consented to a prohibition order from participating in the affairs of any federally insured credit union.
Michael A. LaJoice, a former CFO of the merged Clarkston Brandon Community Credit Union in Clarkston, Mich., pleaded guilty to fraud in March. He was sentenced to 11 years in prison and three years' supervised release. He was also ordered to pay more than $17.7 million in restitution. Clarkston Brandon Community CU was merged into the $3.5 billion Michigan State University Federal Credit Union in East Lansing.
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