The CEO and president of the Municipal Credit Union, which serves hundreds of thousands of public employees and their families, has been arrested on Federal fraud and embezzlement charges connected to his misuse of millions of dollars in MCU funds.
Kam Wong, 62, was arrested and arraigned May 8 before U.S. District Judge James L. Cott and released on a $1 million bond secured by his home in Valley Stream, L.l., according to his attorney, Jeffrey Lichtman.
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