Kam Wong, who led New York's largest credit union (by members) through the 9/11 crisis, the Great Recession and Hurricane Sandy, was charged with fraud, embezzlement and aggravated identify theft in Manhattan federal court after he was arrested Tuesday.

Federal prosecutors said Wong, 62, of Long Island's Valley Stream, allegedly stole millions of dollars from the state's oldest credit union through various fraudulent schemes from 2013 to 2018, and spent $3.5 million of the money he embezzled on New York lottery tickets, according to a federal investigation. The former CEO was placed on administrative leave by the board of directors in February after receiving a recommendation from a special committee that was overseeing an internal investigation prompted by the criminal investigation.

The schemes included getting reimbursed for fake dental work; personal tax liabilities; millions in cash payments in lieu of long-term disability insurance payments and millions more for taxes to cover those payments; fake car repair bills on one of his luxury cars leased to him by the credit union; educational, housing and living expenses for two relatives; annual cash advances; ATM withdrawals and cash payments in place of 320 sick days he never used that violated his contract.