After months of attempting to cooperate with Federal prosecutors, Kam Wong, the former president and CEO of the Municipal Credit Union, has pleaded not guilty to charges that he embezzled millions of dollars from the organization and squandered much of it playing the lottery.
Since his arrest on May 7, the 62-year-old executive had been able to defer indictment while negotiations continued with the prosecutors. The Credit Union Times first reported Mr. Wong’s Oct. 9 arraignment, at which he entered his plea.
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