SAGINAW, Mich.–A former credit union CEO accused of embezzling more than $710,000 has been given a trial date.
Stanley Hayes, 45, who formerly led the now-defunct Valley State Credit Union, will stand trial after waiving his preliminary exam. Hayes faces 13 felony counts, including nine counts of embezzling, according to MLive.com.
Hayes led the credit union, which was placed into conservatorship, from 2005 to 2016, when he was terminated.
Michigan Attorney General Bill Schuette said that during his time as CEO, Hayes allegedly used money embezzled from the credit union to pay for his insurance, property taxes, travel and other personal expenses, MLive.com reported.