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
Stupid Stuff Fraudsters Buy: The $250 Million Pool Shark
Ally Keeps Growing as Auto Loan Delinquencies and Losses Edge Higher
When a Car Is Obtained Through Fraud, Is It Counted as Stolen?
Credit Union Employee Accused of Stealing from the Dead
Credit Union Promoted Employee Despite Fraud Warnings — Then Collapsed Under $3.5 Million in Losses
The New Normal? Auto Loan Delinquencies May Have Found Their Floor