A former Clarkston credit union executive charged with embezzling over 18 million dollars is to be sentenced today in Detroit Federal Court.
37 year old Michael Lajoice pled guilty to the federal charges related to the embezzlement in exchange for a a sentence of no more than 12 1/2 years.
He would also have to pay restitution of more than 17.7 million dollars.
Lajoice had ben accused of embezzling the money over a 12 year period while employed as the chief financial officer of the the Clarkston-Brandon Community Credit Union.
Prosecutors say he used the money to finance a lavish lifestyle that included international travels, traveling by private jet, having a home movie theatre installed in his luxury home and spending millions of dollars to promote a dance studio venture.