9 Indicted In Bribe Scheme That Busted Credit Union

Law360, New York (March 2, 2011, 7:03 PM EST) -- Nine people were indicted in an Ohio federal court on Wednesday for an alleged bribery and bad loan scheme that cost a credit union more than $70 million and forced it into conservatorship.

Anthony Raguz, chief operating officer of the now-defunct St. Paul Croatian Federal Credit Union in Eastlake, Ohio, accepted more than $500,000 in kickbacks for writing more than 1,000 bad loans worth more than $70 million since 2000, according to an indictment filed Wednesday in the U.S. District Court for the Northern District of...
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