New court documents reveal federal prosecutors are in discussions with New York attorney Jeffrey Lichtman representing fired Municipal Credit Union President/CEO Kam Wong, accused of stealing millions from the New York City-based cooperative.

Federal prosecutors said in court documents that they have had discussions with Lichtman "regarding a possible disposition of the case."

This new development may likely mean both sides are hammering out details of a plea deal in which Wong would agree to fully cooperate with federal prosecutors. In exchange, federal prosecutors could agree to drop some of the felony charges, which may result in a lighter prison sentence for the former CEO.

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Fraud & Enforcement