Man accused of $20M embezzlement to have psychiatric evaluation - WNEM TV 5

Man accused of $20M embezzlement to have psychiatric evaluation

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Developer Scott Lozon said the psych exam for a credit union executive charged with 14 felonies in embezzlement is much need.

Michael LaJoice is better known in Mid-Michigan as the owner of Chasse Latin Dance studio.

“You’ve got to be a little crazy to pay that much for a piece of property,” Lozon said.

Lozen said he always wondered how LaJoice could outbid him and other in the pursuit of commercial property in the area.

“I think he drastically overpaid,” Lozon said. “I just said to my friend on the phone who lives in town, you could only pay that much with stolen money.”

LaJoice is accused of embezzling $20 million over the past 16 years from his position at Clarkston Brandon Community Credit Union.

On Wednesday, Judge Joseph Fabrizio approved a competency evaluation for LaJoice.

LaJoice’s attorney said it’s not necessarily for an insanity defense.

"Mr. LaJoice is going to be sent to the Center for Forensic Psychology,” said Michael P. Manley. “What happens there is, they are going to determine whether or not he understands the nature and object of the charges against him and if he can rationally assist his attorney.”

LaJoice's bond is set at $1 million dollars at the Oakland County Jail. The Chasse Ballroom that he owns is closed until further notice.

The psychiatric evaluation could take 60 days.

Manly said he does expect more charges in the case. Manly also said he doesn’t believe LaJoice’s family had any idea of what was going on.

Lozon said, he just hopes all the truth is uncovered.

“The great thing about America, everybody is innocent until proven guilty,” Lozon said. “Maybe there are some issues here. The justice system will probably prevail in the end.”

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