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CREDIT UNION COLLAPSE-SCAM
Alleged briber convicted in scheme to get loans at NE Ohio credit union that later collapsed

Reported by: Associated Press
Reported: Wednesday, May 14, 2014 5:43 PM EDT
CLEVELAND


A suburban Cleveland man accused of paying bribes to get millions of dollars in fraudulent loans from a now-defunct credit union has been convicted on federal charges.

Prosecutors say a jury convicted 41-year-old Svetislav Vujovic of Brunswick on 14 counts. Those included 10 counts of making false statements to a federal credit union and two counts of money laundering.

Phone messages seeking comment were left Wednesday for his attorney.

Authorities say he got about $3 million in loans from St. Paul Croatian Credit Union in suburban Cleveland after paying $20,000 in bribes to its chief operating officer between 2004 and 2008.

That executive, Anthony Raguz, was accused of issuing $72 million in fraudulent loans that caused the credit union to collapse. He is serving a 14-year prison sentence.










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