CLARKSTON, Mich.–The former credit union CFO who is a suspect in an embezzlement of as much as $20 million will undergo a mental competency hearing at Michigan’s Center for Forensic Psychiatry.
Michael A. LaJoice, 36, the former CFO at Clarkston Brandon Community Credit Union, is currently facing 14 counts of embezzlement totaling more than $100,000 between October and December 2015. Allegedly, however, LaJoice confessed to the Oakland County Sheriff's Office that he took $20 million from the credit union over a 12-year period.
The Detroit News reported that now LaJoice's attorney, Michael Manley, has requested the forensic exam yesterday from District Judge Joseph Fabrizio at what was to be a probable cause hearing.
"This isn't a question of mental illness," the Detroit News quoted Manley as saying. "This is to determine if he understands the charges he faces and can assist in his defense."
The forensic exam could take 60 days, according to Manley. In the meantime, detectives and regulators continue to investigate the credit union’s records to determine the exact amount of money that may be involved.
The $60-million credit union has since been placed into conservatorship and is being managed by NCUA.
LaJoice, who has no prior criminal history, remains in jail in lieu of $1-million bond.
For additional details on LaJoice and related allegations, go here and here.