Manhattan, NY – 19 November 2018 – Disgraced former CEO of New York’s biggest federal credit union, Kam Wong, who was arrested in May of 2018 for allegations of more than $9M in fraud and embezzlement that he used for personal and luxury items and reportedly spent more than half of on lottery tickets, pleaded guilty to one count of embezzlement from a federally insured credit union, which carries a maximum penalty of 30 years in prison.
Read More!
More Stories
A Different Kind of Money Laundry
Federal Banking Agencies Issue New Guidance on Immigration-Related Credit Risk
18 Year Old Fraud Auto Loan “Credit Mule” Busted on Video
Lenders Continue Paying Millions to Settle TCPA Lawsuits as Decades-Old Telephone Law Collides with Modern Collections
Happy Birthday CUCollector! Seventeen Years… Where Did the Time Go?
One Face. Sixteen Identities. $476,000 in Fraudulent Auto Loans