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  • GAINESVILLE, Fla. (11/1/13)--A Gainesville, Fla., man was arrested Monday and indicted on three felony charges of fraud, grand theft and money laundering, for an alleged global scheme that involved local credit unions (The Gainesville Sun Oct. 29). Alachua County Sheriff officials accuse Elijah Lashawn Brown, 22, of opening a Sunstate FCU account on Oct. 16, and using it to help a man who called himself Ben Shao launder money from Hong Kong. Brown allegedly told investigators the account was set up so Shao could pay him to help intermittently launder $25 million. The Gainesville resident is also accused of opening accounts at Bank of America and Vystar CU for the scheme. He allegedly gave Shao personal banking information for the Sunstate FCU account after initial attempts to transfer money failed. Shao then, allegedly, sent about $5,000 daily to the Sunstate account. Brown is accused of sending the money via Western Union to accounts in Paris and Nigeria. He allegedly accumulated $14,844 in his Sunstate FCU account. Vystar CU has $4.9 billion in assets and is based in Jacksonville, Fla. Sunstate FCU has $298 million in assets and is based in Gainesville, Fla. ...
  • MIDDLETOWN, Pa. (11/1/13)--Mid-Atlantic Corporate FCU donated 5,101 pounds of food and water to the Central Pennsylvania Food Bank in conjunction with the charity's food drive effort. "This number more than doubled the 2,500-pound goal the corporate set out to achieve," said Janice Appleby, senior vice president, human resources. "In addition, 13 Mid-Atlantic Corporate employees volunteered their time at the food bank." The gift provided the equivalent of 4,250 individual meals across central Pennsylvania. Mid-Atlantic Corporate FCU, based in Middletown, Pa., serves more than 800 credit unions. The Central Pennsylvania Food Bank distributes more than 20 million pounds of food products to more than 600 soup kitchens, shelters and food pantries in 27 central Pennsylvania counties. (Photo provided by Mid-Atlantic Corporate FCU) ...
  • LOS ANGELES, Calif. (11/1/13)--Charles Bumbarger, president/CEO of University CU, is planning to retire at the end of 2013 after leading the credit union for 37 years. When Bumbarger started, University CU had $8 million in assets and seven employees. It now has $482 million assets, 33,000 members, and 95 employees, both full-time and part-time. University CU serves employees and students at the University of California, Los Angeles. The credit union's board of directors has formed a search committee to find a successor ...


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