2nd prison term ordered in credit union embezzlement case - WNEM TV 5

2nd prison term ordered in credit union embezzlement case

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Michael LaJoice (Source: Oakland County) Michael LaJoice (Source: Oakland County)
PONTIAC, Mich. (AP) -

A former suburban Detroit credit union official has been ordered to seven to 20 years in prison after pleading no contest to embezzlement.

The sentence ordered Monday by Oakland County Circuit Judge Cheryl Matthews against Michael LaJoice is concurrent with the federal sentence handed down in March. LaJoice pleaded no contest to 14 state charges related to the roughly $19 million embezzled from the Clarkston Brandon Community Credit Union.

A no contest plea isn't an admission of guilt but is treated as one for sentencing purposes.

LaJoice, who was chief financial officer of the credit union, bought a luxurious home, fancy cars and commercial properties, and sometimes traveled by private jet.

The credit union was declared insolvent and merged last year with Michigan State University Federal Credit Union.

Copyright 2017 Associated Press. All rights reserved.

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