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.
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.
