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Credit Union Executive Sentenced For Fraud Scheme

Thursday, December 6, 2012 - 3:03 PM
From Bank info Security
A former banking executive in Ohio has been ordered to pay more than $72.5 million and serve 14 years in prison for the role he played in a 10-year loan-fraud plot that led to one of the largest credit union failures in U.S. history, federal authorities say.

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The credit union that failed was St. Paul Croatian FCU. It was liquidated by the NCUA in 2010. The news of the fraud started to come out in late 2010. I reviewed some of the fraud that occurred and its impact on some depositors in this 2011 blog post.
Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
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