You Wonder How they Do It?

"New charges filed by federal prosecutors Tuesday against former CFO Michael A. LaJoice detailed how he carried out an $18.6 million fraud scheme over 13 years at Clarkston Brandon Community Credit Union in Clarkston, Mich.

A fraud expert who reviewed the court documents said LaJoice got away with it because there was no separation of duties at the credit union and no independent verification of investment accounts LaJoice fictitiously created to conceal his fraud.

Federal prosecutors said LaJoice stole more than $2.5 million by issuing cashier’s checks from various credit union accounts without authorization. These checks were deposited in LaJoice’s bank accounts at Capital One Bank, Comerica Bank, Scottrade and the $2 billion Genisys Credit Union in Auburn Hills, Mich."

Read complete story and how he did it at; Feds Uncover New Details in CFO Embezzlement:



'via Blog this'