A bulletin released last week by the FBI revealed the reason the NCUA seized the $52 million Broome County Teachers FCU of Binghamton, N.Y., in June of 2011. Loan fraud.

Scott A. Lonzinski, 32, of Clifford Township, Pa., and his mother, Laura Conarton, 46, of Great Bend, Pa., pled guilty last week in U.S. District Court to fraud in connection to a scheme that netted them more than $14 million from 10 loans obtained from Broome County Teachers.

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