![Michael A. LaJoice mugshot courtesy Oakland Couty Sheriff's Dept](https://upperpeninsulabreakingnews.wordpress.com/wp-content/uploads/2016/06/michael-a-lajoice-mugshot-courtesy-oakland-couty-sheriffs-dept.jpeg?w=665)
Greedy CFO
News Director, Owner
(Detroit, MI) – The feds are going after the chief financial officer of a Michigan credit union on bank fraud charges because he admits embezzling over $20 million – and until this point was facing only state charges.
A felony “information” was filed at noon today (Wed., June 8, 2016) against Michael A. LaJoice, 36, of Tyrone Township, MI accusing him of felony bank fraud from his days as CFO at the Clarkston Brandon Community Credit Union in Oakland County. The case in Detroit federal court is assigned to U.S. District Court Judge Gershwin A. Drain. LaJoice’s initial appearance and other matters will be handled by Magistrate Judge Mona K. Majzoub in Detroit, MI.
From Jan. 2003 until Jan. 2016 LaJoice used many illegal means to embezzle over $18 million from the credit union, the federal information states. In addition, over $2.5 millions dollars was stolen by LaJoice between Oct. 2007 to Dec. 2015, federal prosecutors state in the six-page felony information.
The information was signed by Assistant U.S. Attorney John K. Neal, chief of the white collar crime unit, and Assistant U.S. Attorney Abed Hammound.
In federal court today, LaJoice was officially charged with one felony, however the felony information accuses him of check fraud and “Automated Clearinghouse (ACH) withdrawals fraud” to steal $16 million dollars between Feb. 2011 and Sept. 2015.
“LaJoice concealed his fraudulent activities by creating fictitious investment in certificates of deposits (Cd’s) and bonds at Total Bank in Miami, FL,” the felony information states. Stolen funds were used to buy vehicles, properties and paid cash to “furnish his new custom-built home worth more than a million dollars.”
LaJoice surprised the Oakland County Sheriff’s Office with a confession on Jan. 6 when he arrived admitted taking $20 million from the credit union over a 12-year period.
Federal prosecutors stated in the felony information they are seeking all of LaJoice’s stolen money during forfeiture proceedings.
Meanwhile, in Clarkston 52-2nd District LaJoice is already charged with 14 state counts of embezzlement over $100,000 from the credit union between Oct.-Dec. 2015. Federal charges are often though to be tougher because there is no parole like in state prison.
A married father of three, LaJoice was free on a million dollar bond and faces 20 years in state prison if convicted.
No federal court dates have been announced yet.
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Related links and information:
Asst. U.S. Attorney Abed E. Hammoud
United States Attorney’s Office
211 W. Fort Street
Suite 2001
Detroit, MI 48226
313-226-9524
Abed (Abdel-Ilah) Hammoud
http://us.viadeo.com/fr/profile/abed-abdel-ilah.hammoud
https://www.linkedin.com/in/abed-hammoud-a84b7711
![Asst Att USDOJ John K. Neal White Collar Crimes](https://upperpeninsulabreakingnews.wordpress.com/wp-content/uploads/2016/06/asst-att-usdoj-john-k-neal-white-collar-crimes.jpg?w=665)
Assistant U.S. Attorney John K. Neal, chief of the white collar crime unit at the U.S. Attorney’s Office for the Eastern District of Michigan in Detroit, MI
Assistant U.S. Attorney John K. Neal, chief of the white collar crime unit, U.S. Attorney’s Office Eastern District of Michigan in Detroit, Michigan
White Collar Crime Unit Chief John K. Neal
The White Collar Crime Unit directs federal investigations of financial crimes that arise in the private sector, especially fraud schemes executed through use of mail or wire communications. Crimes prosecuted by the WCCU include bank fraud, mortgage fraud, Ponzi schemes, corporate fraud, arson for profit, credit fraud, and identity theft, as well as fraud schemes perpetrated by criminal organizations.
Neal serves as an assistant U.S. attorney, focusing primarily on health care fraud investigations and cases. He has worked for the Department of Justice since 2002, first as a trial attorney in the Fraud Section of the Civil Division, then as an assistant chief in the Fraud Section of the Criminal Division, and now as an assistant U.S. attorney. From June 2009 through April 2011, Mr. Neal supervised the Medicare Fraud Strike Force in Detroit, where he oversaw indictments charging 95 defendants with a variety of crimes relating to health care fraud.
He has participated in several high-profile cases during his career, among them the trial of a Detroit physician involved in a $19 million physical and occupational therapy scheme (convicted on all charged counts), trial of a physician and a nurse working at a fraudulent Miami HIV infusion clinic (physician received 30-year term of incarceration, one of the longest ever obtained in a Medicare fraud case), and trial of a Chicago hospital administrator (resulted in $64 million judgment for the United States). Following graduation from Columbia Law School, Mr. Neal clerked for Hon. Charles R. Wilson of the U.S. Court of Appeals for the 11th Circuit.
https://www.justice.gov/usao-edmi/criminal-division
https://www.justice.gov/usao-edmi/archived-district-reports/annual-report-2013
http://www.icle.org/modules/directories/contributors/bio.aspx?pnumber=f76044
http://files.arnoldporter.com/governmentinvestigationsconference.pdf
https://assets.documentcloud.org/documents/2157931/fata-feds-response-to-sentencing.pdf
https://ardenoticias.blogspot.com/2015/07/brooklyn-man-pleads-guilty-in-manhattan.html?view=classic
http://www.miheadlines.com/2015/07/10/cancer-doctor-sentenced-to-45-yrs-behind-bars/
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State charges news stories:
http://www.mlive.com/news/flint/index.ssf/2016/01/accused_20m_embezzler_michael.html
http://www.mlive.com/news/flint/index.ssf/2016/01/freeze_put_on_21m_in_fenton_pr.html
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