More than $10 million may have been embezzled from the $23.6 million Taupa Lithuanian Credit Union in Cleveland.
That's according to unsealed court documents in the case against former President/CEO Alex R. Spirikaitis, who was an FBI fugitive for more than three months before his arrest Monday and initial court appearance Tuesday.
The small credit union was liquidated by the NCUA in July. Authorities have seized Spirikaitis' million-dollar home in the Cleveland suburb of Solon, and documents revealed Tuesday also said the former credit union executive had a cache of semi-automatic weapons and thousands of rounds of ammunition stored at the credit union when it was searched.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.