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Credit Union's Ex-CEO Deserves Long Sentence, Feds Say

Law360, New York (May 21, 2019, 4:51 PM EDT) -- Prosecutors asked a Manhattan federal judge Monday to hit former Municipal Credit Union CEO Kam Wong with a prison sentence of about seven years for pilfering nearly $10 million from the lender starting in 2013.

In a filing ahead of the 64-year-old Long Island man's June 4 sentencing, prosecutors told U.S. District Judge John G. Koeltl that Wong is exaggerating the extent to which gambling addiction caused his lawbreaking and argued the defendant has not been helpful in turning over assets.

"It is difficult to overstate the damage that the defendant caused," the memo says, asking for a sentence in the...

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