Former Chief Operating Officer of Ohio Credit Union Pleads Guilty to Bank Fraud
September 29, 2011
Total Loss:
Millions
Anthony Raguz, the former chief operating officer of the St. Paul Croatian Federal Credit Union, pleaded guilty to six counts, including bank fraud, money laundering and bank bribery, for his role in one of the largest credit union failures in American history, the Justice Department announced today.
Raguz, 52, of Mentor, Ohio, issued more than 1,000 fraudulent loans totaling more than $70 million to more than 300 account holders at St. Paul from 2000 to April 2010, according to court documents. He accepted more than $1 million worth of bribes, kickbacks and gifts in exchange for the fraudulent loans, according to court documents.
Source:
FBI
Posted in:
Money Laundering
ACH and Wire Fraud
Internal Fraud