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YUMA, Ariz.-Authorities sifting through fraud charges against the former director of business lending at AEA FCU are estimating the scheme will cost the one-time $410 million credit union almost $58 million, pushing the credit union to the brink of insolvency and making it one of the biggest credit union frauds in recent years.
The latest estimate comes in a civil suit challenging the bankruptcy of William Liddle, former vice president of business services at the one-time Arizona Education Association credit union, and his wife, Rhonda Liddle. The two filed for bankruptcy last year and subsequently were charged in a federal...