The deeds to two houses owned by Frank Ruiz now belong to AEA Federal Credit Union.
Ruiz was a co-conspirator in a business lending kickback scheme with the credit union's former vice president of business lending, William Liddle.
Ruiz previously pled guilty to several counts including conspiracy and money laundering for his role in defrauding the $245 million AEA in Yuma, Ariz.
Ruiz testified against Liddle and is now serving a two-year prison sentence.
Even though Ruiz filed for bankruptcy, a judge recently ruled that he would still have to pay restitution in the amount of $6,347,356 to AEA.
Liddle was found guilty of 54 counts of fraud that and sentenced to prison for 15 years. His wife, Rhonda, was sentenced to 12 months of home incarceration and five years of supervised release. She is currently appealing her conviction.
In June, the Liddles agreed to pay more than $25.3 million in restitution.
AEA was placed in conservatorship by the NCUA in December 2010. In July, the agency reported that the credit union's financials had started to improve.
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