LANSING, Mich. – The former president/CEO of Veterans Health Administration Credit Union has been charged with allegedly stealing $2 million from the credit union, which has since been closed and merged into Public Service CU in Romulus, Mich.
According to Michigan Attorney General Bill Schuette, Fuataina Afutiti, 50, has been charged with one count of receiving proceeds from a continuing criminal enterprise and one count of embezzlement from a credit union. She was arraigned here earlier today and released on a $10,000 personal recognizance bond.
The alleged misconduct was discovered in February 2016 during an exam by the State of Michigan’s Department of Insurance and Financial Services (DIFS). The audit revealed significant irregularities and cash shortfalls at the credit union, according to prosecutors. Prosecutors said Afutiti was questioned at that time and could not provide an explanation of the irregularities..
According to the charges, Afutiti allegedly leased or bought several vehicles, including a 2013 Mercedes Benz and a $100,000 motor home, and also used money embezzled from the credit union to finance personal vacations.
“For a person to take advantage of Michigan veterans, many of whom are disabled and on fixed incomes, to use the money to live a life of excess is despicable,” Schuette said. “These men and women gave so much to allow us the freedoms we have in this county, and anyone who takes advantage of that will face the consequences.”
The DIFS said total losses attributed to Afutiti amount to $2,303,158.66.