Alex R. Spirikaitis, former CEO of the now-shuttered Taupa Lithuanian Credit Union, has been formally charged by prosecutors, who said he and others stole an estimated $15 million, some of which he used to build a $1.6 million home, pay for a luxury suite at Cleveland Browns games, buy nine vehicles and amass an arsenal of semi-automatic weapons and more than 10,000 rounds of ammunition that he stored at the cooperative's office in Cleveland.
He personally embezzled about $4.2 million from Taupa Lithuanian CU between 2001 and 2013, federal prosecutors charge.
Spirikaitis, 51, was charged with one count of conspiracy to commit bank fraud. His arraignment in U.S. District Court has not yet been scheduled.
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.
