News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

Meaden & Moore

Knight Foundation


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Courts and Crime


More charges in credit union collapse
Gezim Selgjekaj indicted for $11 million scheme at St. Paul Croatian Federal Credit Union
by WKSU's KABIR BHATIA


Reporter
Kabir Bhatia
 
In The Region:
An Avon Lake man is facing charges involving more than $11 million tied to the collapse of the St. Paul Croatian Federal Credit Union. WKSU’s Kabir Bhatia reports on the latest developments in the largest credit union collapse in history.
More charges in credit union collapse

Other options:
Windows Media / MP3 Download (0:55)


Gezim Selgjekaj was indicted Thursday on charges of creating fictitious businesses to get loans. Federal officials say he collaborated with the union’s Chief Operating Officer Anthony Raguz. And Justice Department spokesman Mike Tobin says the fraud occurred between 2003 and 2010, even though Selgjekaj was in prison on unrelated charges during part of that time.

“He got about $11 million in loans over eight years in his name, in the names of sham companies he operated, and in return for getting these loans, he would give cash and checks to Mr. Raguz.”

Last year, Raguz was sentenced to 14 years in prison and ordered to re-pay $72.5 million. Twenty-four people have now been indicted in the scheme. The credit union once served 5,400 members with assets estimated at more than $238 million. Selgjekaj’s arraignment is slated for next week.
Listener Comments:

If he stole 11 million dollars why must he repay 72 million?


Posted by: astroboi (here) on January 4, 2013 9:01AM
Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook




Stories with Recent Comments

Could University Circle developments ripple into East Cleveland?
Outsiders are so far off the beaten path and you all need to attend the meeting being held today 8/31/15 Cleveland Public Library, 1:00 PM. http://44112news.co...

ResponsibleOhio leader says the state is trying to set Issue 3 up for failure
Ohio suppose to believe that a group of investors were united under one cause to legalize marijuana.Once legal they all of sudden turn into 10 different compani...

Terry Pluto: U of A's new athletic director has the toughest job in town
It is a hard sell. The Students do not want to go to the football games and they do not want to pay for the program. They have a lot of student loan debt and t...

Akron considering the future of the B.F. Goodrich smokestacks
This BFGoodrich alumna says, "Thank you, Dave Lieberth!"

State creates panel to look at Ohio charter school sponsors
It is more than disturbing that charter schools, which seemed like a good idea years ago, have begun to cripple public school education.

DEVO mural in Akron is now on display downtown
The installation is not at the former site of Chili Dog Mac. CDM was one block north on the other side of Main St.

New report shows growth in white collar jobs for Northeast Ohio
Unfortunately, there are fewer jobs in comparison to the number of professionals applying for them. I have been had a full time job since June 2012. In order to...

Advocacy group: Ohio could lead in clean energy
Ohio Legislators, You are supposed to be our leaders but you're not taking us where we want to go - where we need to go!

Campaign for and against marijuana legalization begins
Cannabis legalization needs to happen as soon as possible! But not if it gives monopolies to a selected few to grow and sell the herb. Responsible Ohio's mono...

Heinen's in downtown Cleveland sponsors a contest for food entrepreneurs
Love that this took place right here! What a way to support local. Thank you Heinens! Love this quote, as a small local biz, I agree, it's big!! "To be a small...

Copyright © 2015 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University