About $10 million to $16 million may have been embezzled from the Taupa Lithuanian Credit Union in Cleveland, which would make it one of the largest credit union fraud cases ever.
While its former CEO is in federal custody and a former teller recently pleaded guilty to embezzlement conspiracy, federal prosecutors expect to charge six other people in the coming weeks or months who were allegedly involved in this massive fraud case that led to the collapse of the $23.6 million Taupa Lithuanian Credit Union.
On the evening of July 16, the FBI and local police surrounded the million-dollar suburban Cleveland home of CEO Alex R. Spirikaitis to arrest him on fraud charges.
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