2 plead guilty to Cleveland credit union fraud

February 3, 2014 at 5:20p.m.

CLEVELAND (AP) — The former chief executive officer of a failed credit union in northeast Ohio and an outside bookkeeper have pleaded guilty in an alleged $15 million fraud case.

The case involves Cleveland-based Taupa Lithuanian Credit Union, which the National Credit Union Administration and the state of Ohio took over in July and placed in receivership. It had about 1,150 members and assets of $24 million.

Federal prosecutors say 51-year-old Alex Spirikaitis pleaded guilty today in federal court to conspiracy.

A former outside bookkeeper, 44-year-old Vytas Apanavicius of Mentor, also pleaded guilty to conspiracy. Both face sentencing May 8.