Alex R. Spirikaitis, the former president and CEO of the now liquidated $23.6 million credit Taupa Lithuanian Credit Union in Cleveland, was arrested last week. Authorities say he falsified bank statements related to deposits made to other credit unions. The National Credit Union Administration and Ohio’s Division of Financial Institutions took possession of the credit union and its computer systems that the alleged scheme was detected, court records show. Financial fraud expert Shirley Inscoe says regulators need to review performance of senior executives more frequently.”]
Source: https://www.cuinfosecurity.com/arrest-in-major-insider-fraud-case-a-6173