Svetislav Vujovic pleaded not guilty to charges of bank fraud, money laundering and bribery in U.S. District Court in Cleveland Friday in the $70 million fraud case that led to the collapse of the St. Paul Croatian Federal Credit Union in Eastlake, Ohio.
A federal indictment alleged Vujovic of Brunswick, Ohio, fraudulently obtained more than 35 loans over four years totaling $2.2 million.
He allegedly applied for these loans by making false representations and he received many of those loans even after having already defaulted on previous loans issued to him by the credit union, according to the indictment. These loans were obtained through various businesses.
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