Brunswick’s Vujovic Convicted In $3 Mil St. Paul Credit Union Fraud: Svetislav Vujovic, 41, of Brunswick, Ohio, has been convicted on all 14 counts related to the illegal receipt of over $3 million from the now-defunct St. Paul Croatian Federal Credit Union. The scheme involved cash payments to the credit union’s chief operating officer in exchange for fraudulent loans.
Vujovic is scheduled to be sentenced on August 19 following a weeklong trial in U.S. District Court in Cleveland. He was found guilty of making false statements, money laundering, financial institution fraud, and giving gifts for procuring loans.
The credit union’s closure and liquidation in 2010 resulted from losses of approximately $170 million, marking one of the largest credit union failures in American history. Vujovic is one of nearly 20 individuals convicted in relation to fraudulent lending practices that led to the credit union’s demise.
United States Attorney for the Northern District of Ohio, Steven M. Dettelbach, emphasized the community’s grief over the credit union’s failure and vowed accountability for all those responsible. FBI Special Agent in Charge Stephen D. Anthony highlighted the international scope of the investigation and its continued pursuit of justice.
The conviction comes after a complex investigation by the Federal Bureau of Investigation and the Internal Revenue Service Criminal Investigation Division, led by Assistant U.S. Attorney Bridget M. Brennan and United States Attorney Steven M. Dettelbach.
Vujovic was assisted in his scheme by Anthony Raguz, the former Chief Operating Officer of Eastlake-based St. Paul Croatian Federal Credit Union, who is currently serving a 14-year federal prison sentence for his role in the fraud.
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Key Facts
- State: Ohio
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|Public Corruption|White Collar Crime
- Source: Official Source ↗
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