Posted on September 23, 2019
Former Credit Union Manager Gets 14 Years in Federal Prison for Embezzlement
Edward Rostohar, of Studio City, was sentenced by U.S. District Judge Otis D. Wright II to 169 months in federal prison for a two-decade long embezzlement scheme that caused the credit union a loss of $40 million. This scheme lead to the financial cooperative being forced into insolvency.
In May, Rostohar pleaded guilty to one count of bank fraud. Prosecutors alleged that he abused his position of trust as a bank manager at a local credit union, to make online payments from the credit union to himself or by forging the signature of another credit union employee on checks made payable to himself.
His scheme was exposed in March when a credit union employee conducted an audit and discovered a check payable to Rostohar for $35,000. Further investigation by the employee discovered that Rostohar drafted checks for approximately $3.8 million payable to himself between January 2018 and March 2019.
This case was investigated by the Federal Bureau of Investigation and Los Angeles Police Department.
If you have been charged or are under investigation for a federal offense, then contact the Law Offices of John D. Rogers to schedule a free consultation with an experienced Orange County federal crimes lawyer.