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Former MCU Head Wong Admits He Embezzled Millions to Feed Habits

Posted 11/26/18

Kam Wong, the former chief executive officer and president of the Municipal Credit Union, pleaded guilty in Manhattan Federal Court Nov. 19 to embezzling millions of dollars from its coffers.

Under the plea agreement, he faces a far shorter term than the maximum of 30 years in prison and five years of supervised release if convicted at trial. Under the Federal sentencing-guideline formula, he could get between 78 and 97 months in prison.

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