CLARKSTON. Mich.–Additional criminal charges have been filed against the former CFO at Clarkston Brandon Community Credit Union.
Prosecutors have filed new documents charging Michael LaJoice of Bank Fraud as part of what is alleged to have been a $20-million embezzlement over a 12-year period at the now-defunct Clarkston Brandon Community CU. As CUToday.info has reported, in January LaJoice walked into the Oakland County sheriff’s office and turned himself in, including allegedly admitting to the embezzlement.
In the new documents filed in federal court, prosecutors allege that in some instances LaJoice wrote cashier’s checks from various accounts without permission and deposited them into his own accounts. LaJoice, who earned $65,000 annually as CFO, owned a multi-million-dollar home and was involved in a multi-million-dollar building project downtown.
According to authorities, after LaJoice was confronted about accounting irregularities, he failed to show up for work the following day and was immediately terminated as CFO, a position that he held since June 2015. He then turned himself in to police.