JACKSON, Miss.— A federal judge has ordered a sweeping asset freeze against former Jackson Area Federal Credit Union CEO Leigh Bridges, her husband Chad Bridges and former branch manager Tina Funez, barring them from moving or disposing of assets as the NCUA pursues its civil lawsuit seeking to recover approximately $95 million allegedly misused from the credit union, according to WLBT.
The preliminary injunction, issued Tuesday by U.S. District Judge Daniel Jordan, freezes all financial accounts owned or controlled by the three defendants until the case is resolved. As CUToday previously reported, the NCUA alleges Bridges orchestrated a years-long scheme that diverted approximately $95 million from the Jackson Area FCU, with Chad Bridges and Funez allegedly benefiting from or participating in the misuse of funds. The civil action followed Leigh Bridges' resignation after NCUA officials confronted her about the missing money.
According to WLBT, the order also prohibits the defendants from transferring or destroying assets, including those held by the Bridges Family Trust. The freeze extends to investment and bank accounts at numerous financial institutions, as well as multiple properties in Mississippi and Alabama, including the Bridges' Jackson-area residence, a condominium in Orange Beach, Ala., and several vehicles. Judge Jordan's order permits the defendants to remain in their residences under specified conditions, requires them to maintain insurance on the properties, and authorizes the NCUA to inventory valuable personal property while restricting the sale or transfer of assets during the litigation.
WLBT further reported that the court established limited exceptions allowing Chad Bridges' salary to be used for basic living expenses and legal fees, subject to oversight by the NCUA. Funez's assets also were frozen, and she was barred from selling a family home in Honduras. The station noted court records allege Leigh Bridges provided Funez with numerous luxury handbags valued at more than $2,000 each and helped finance the purchase of the Honduras property—allegations that form part of the NCUA's broader effort to trace and recover assets it contends were purchased with misappropriated credit union funds.
As CUToday previously reported, the NCUA alleges Leigh Bridges used credit union funds to finance an extravagant lifestyle that included luxury vehicles, designer handbags, jewelry, artwork, real estate and cryptocurrency investments, while Chad Bridges and Funez allegedly received substantial benefits from the scheme. Court filings previously cited by CUToday also allege Bridges concealed the losses through fraudulent accounting entries and manipulated the credit union's books over a period of years.