Federal authorities are moving forward with foreclosing on a suburban home that they claim a former CEO paid for with $1.5 million he allegedly embezzled from the shuttered Taupa Lithuanian Credit Union in Cleveland.
According to court documents, a FBI special agent hand delivered a "notice of complaint for forfeiture" and other foreclosure papers on Aug. 7 to Julie A. Spirikaitis, wife of Alex R. Spirikaitis, the former CEO of TLCU.
He has been wanted by the FBI for nearly a month on charges of embezzlement in the failure of the $23.6 million Cleveland credit union. The cooperative was liquidated July 12 after the NCUA determined the 1,154-member cooperative was insolvent.
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