A former business development manager for the $1 billion Philadelphia Federal Credit Union was indicted Tuesday for allegedly helping launder money for three Pennsylvania public officials, including an elected judge.
A federal grand jury handed down a superseding indictment that charged Kevin M. Biederman, 34, with five felony counts of conspiracy to commit money laundering, money laundering and bank bribery. Biederman worked at PFCU from 2012 to March 2016.
Three Bucks County public officials were also charged with conspiracy to commit money laundering, money laundering, wire fraud, mail fraud and extortion.
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.
