3 More Charged Over Ohio Credit Union Collapse

Law360, New York (February 9, 2012, 8:28 PM EST) -- A federal grand jury has indicted two Ohio businessmen and an accountant for their alleged roles in a fraudulent loan, bribery and kickback scheme that sparked one of the largest credit union collapses in U.S. history, prosecutors said Wednesday.

Prosecutors said A. Eddy Zai conspired with Anthony Raguz, the former chief operating officer of the St. Paul Croatian Federal Credit Union, and others to defraud the credit union for $16.7 million by submitting false loan documents.

Zai also paid bribes and kickbacks to Raguz in order...
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