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Clarkston Credit Union CFO behind bars for embezzling $20-million

Michael LaJoice

Thirty-six-year-old Clarkston Brandon Community Credit Union CFO, Michael LaJoice, was known for his generous acts, but today he’s behind bars. LaJoice has been arraigned on 14 charges involving a scheme to embezzle $20-million dollars from the credit union over a 12-year period. Credit union officials told Channel 7 Detroit their customers’ deposits are safe. Federal insurance covers up to $250-thousand and prosecutors say nine members had more than the insured amount in their savings accounts. LaJoice was known for his philanthropy, once paying $4,000 for a pie at a church fundraiser. He faces 20 years in prison and fines. His bond set at $1,000,000.