Michael Anthony LaJoice, the 36-year-old CFO for the $68 million Clarkston Brandon Community Credit Union in Clarkston, Mich., pleaded not guilty to 14 counts of embezzlement Friday in Oakland County 52-2 District Court, a court official said. His plea came two days after he confessed to stealing $20 million from the cooperative.
His bond was set at $1 million and was returned to the Oakland County Jail following his arraignment.
According to the Detroit News, LaJoice walked into the Oakland County Sheriff's Office on Wednesday morning and admitted that he embezzled $20 million over 12 years from the credit union.
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