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Kam Wong is out as CEO of MCU.

The board of directors for the $2.8 billion Municipal Credit Union fired its president/CEO Kam Wong Monday.

The termination of the 11-year CEO for New York’s largest credit union by members comes five weeks after a criminal complaint was filed in Manhattan’s federal district court that accused the 62-year-old executive of allegedly stealing millions of dollars from MCU through various fraudulent schemes from 2013 to 2018. Wong was placed on administrative leave by the board in February after receiving a recommendation from a special committee that is overseeing an internal investigation prompted by the federal criminal investigation.

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Peter Strozniak

 

Credit Union Times

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