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InvestigationIt takes an act of Congress to get anything done in Washington, D.C., but it took the act of only one congressman to get an answer from the NCUA’s Office of Inspector General (OIG) on why Nebraska’s Creighton Federal Credit Union was merged last year after posting a $13.5. million loss.
The OIG determined the loss accumulated over two and a half decades because of financial statement fraud perpetrated by the former CFO — not for his personal gain but to make the credit union appear that it was thriving.
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