John Struna pleaded not guilty Friday in U.S. District Court in Cleveland for allegedly embezzling $2.5 million in a massive fraud case that led to the collapse of the Taupa Lithuanian Credit Union in Cleveland last July.
Earlier this month, federal prosecutors charged Struna, 51, of the Cleveland suburb of Concord Township, with one count of conspiracy to commit theft or embezzlement from a credit union.
A total of $15 million had been embezzled over 18 years by seven people – CEO Alex Spirikaitis, three other employees and three members – from the Cleveland cooperative, authorities said, which would make it one of the largest credit union fraud cases ever.
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.
