Court documents say conspirators include three employees and three members of the failed Taupa Lithuanian Credit Union of Cleveland.
Three employees and three members racked up millions in insufficient funds that caused Taupa Lithuanian Credit Union insolvency.
William J. Memmer accused of stealing $1.8M and understating assets by $5.7M, causing failure of $15.5M GICFCU.
NCUA OIG report on $7M NCUSIF loss says regulator should ask Congress for access to independent audit reports, circumventing credit union management.
Former teller accused of embezzling $480,000 while working for CEO Alex Spirikaitis.
A. Eddy Zai also ordered to pay $23 million in restitution to NCUA.
Three more charged, bringing to 24 number indicted in Cleveland credit union fraud and collapse.
Former St. Paul Croatian FCU President/CEO Anthony Raguz, whose actions helped trigger one of the largest credit union failures in history, pleaded guilty on Sept. 29 to six criminal counts, including bank fraud, money laundering and bank bribery in federal court in Cleveland.
Former executive guilty for theft that led to CU failure.
More than a year after St. Paul Croatian Federal Credit Union was conserved and liquidated because of losses from fraud, there have been indictments, federal and international investigations and money hunts, and a lawsuit against the NCUA.