The NCUA on Friday liquidated the $13.8 million Lynrocten FCU of Lynchburg, Va., the day after credit union's annual meeting Thursday night in its legacy sponsor's breakroom.
Earlier in the week, local print and broadcast media reported that local police were investigating allegations from members that money was missing from accounts and loans were made from their accounts without their knowledge.
The Lynchburg Police Department posted a Facebook update about the investigation, which it said it began on April 25 after receiving a report from the credit union itself.
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