Posted on 03/30/2019 12:32:18 PM PDT by patriot torch
The longtime manager the CBS Employees Federal Credit Union has been arrested and charged with embezzling more than $40 million from his employer over the past 20 years. Edward Rostohar faces felony counts of bank fraud and aggravated identity theft.
In conjunction with the arrest, the National Credit Union Administration — a federal agency that regulates credit unions — announced Friday that it has liquidated the CBS Employees Federal Credit Union and shut down its operations. University Credit Union immediately assumed CBS Employees’ assets.
(Excerpt) Read more at deadline.com ...
According to CNBC, the cost of a 30-second ad during Super Bowl LIII is $5.25 million. CBS had Superbowl LIII back in 2/19.
He avoided being caught for 20 years AND 40 million dollars, GIVE ME A DAMN BREAK, I don’t care that he worked for auditing before this IS to huge to miss, unless of course the government is auditing!!!
Crooks like to deal with credit unions and savings and loan association. The oversight can be loosey goosey. It wasn’t an accident that Hillary Clinton dealt with Madison Guaranty Savings and Loan Association in the Whitewater deal.
The government was too busy at the time using the IRS to target tea party patriots.
and giving his wife a weekly allowance of $5,000.
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So his wife thinks a guy working at a bank makes enough money to giver her a 250,000 dollar yearly allowance?
Shes in on it, Jim.
Yeah. Idiots.
“So no one does audits?”
Sounds like the guy was previously an NCUA examiner and knew what they look for in audits and how to hide things.
A win win. Criminal arrested and employees of a DNC propaganda organ get the purple shaft. What’s not to like?
This story warms my heart.
Commie libs stealing from commie libs.
Win/win.
I guess the news at 11:00pm will focus on white collar crime. /s
No one notices a missing $2M a year for 20 years?
SeeBS, not the sharpest knives in the drawer.
40 large— how does that happen? Even after 20 years at 2 million a year on average. Criminals are stupid in the long run. He enjoyed his little party of treats but he can kiss all that fizz-fizz bye bye. Embrace the new life of it sucks mode.
Had he simply chosen a career with like minded perps, he could have gone on to become a Senator and even a presidential candidate. All while banking queen Barney hosed the banking community
He should get 20 years. But I’m betting he’ll be out in one.
I would add, the only difference is, when this guy dies, he won’t receive a hero’s farewell, lying in state of repose in the Rotunda. And won’t be cheered by the “ladies” on the view.
Oh yes. An other case of punishing the innocent (other better run credit unions and their depositors) and protecting the guilty.
Re: post #20
I neglected to mention that the person in question is a Republican councilman in a small community next to ours. The headline mentioned him being a councilman, but his party was not stated until the next-to-the-last paragraph of the article. That surprises me, because it is a Gannett paper.
It is not that hard to pass an audit. And you can do it for years, I was on a grand jury when we discovered massive fraud.
Bigly! Hush money for his honey.
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