Cleveland businessman A. Eddy Zai has been indicted on 37 counts related to unpaid loans from the now-defunct St. Paul Croatian FCU and two other financial institutions.
In the indictment, which was unsealed Wednesday, the charges against Zai include two counts of conspiracy, two counts of bank fraud, one count of bank bribery, 11 counts of money laundering, 17 counts of making false statements to a bank and one count of making false statements to law enforcement.
The charges relate to more than $16 million in unpaid loans.
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