Kam Wong’s attorney responds to the NCUA ban.

A New York attorney representing CEO Kam Wong, who has been accused of stealing millions from  the $2.8 billion Municipal Credit Union,  criticized a decision by the NCUA to ban his client from participating in the affairs of any federally insured credit union

Typically, the independent federal agency places former credit union employees on its prohibition list after they have been convicted of theft, embezzlement or other fraud crimes. However, the NCUA board made an exception Thursday to ban Wong so that he would no longer pose a threat to the interests of MCU’s 431,000 members and impair public confidence in one of New York’s largest credit unions.

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Peter Strozniak


Credit Union Times

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