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Credit union head charged with conspiracy

Credit union head charged with conspiracy

(Cleveland) — The former chief executive officer of a credit union in northeast Ohio has been charged with conspiracy in an alleged $15 million fraud case.

The charge against 51-year-old Alex Spirikaitis in federal court was detailed Wednesday in a filing that usually signals a pending plea deal.

There was no immediate comment from his defense attorney in response to a message.

Spirikaitis is accused of personally embezzling more than $4 million from the Cleveland-based Taupa Lithuanian Credit Union between 2001 and 2013 and misrepresenting credit union assets to regulators.

The National Credit Union Administration and the state of Ohio took over the credit union in July and placed it in receivership. It had about 1,150 members and assets of $24 million.

Two other men were charged earlier in the alleged conspiracy..

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(Copyright 2014 The Associated Press, all rights reserved.) 

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