CLEVELAND—Another person has been indicted for fraud related to the failure of the $24-million Taupa Lithuanian Credit Union here.
Andrew Belzinskas, 45, was indicted on one count of conspiracy to commit bank fraud and one count of bank fraud. He is charged with defrauding the now-defunct credit union out of more than $436,000.
Belzinskas worked full-time at Taupa Lithuanian in various capacities from 1991 through 2004, and continued to work there part-time as a loan officer through 2013. At no time did he earn more than $50,000 per year, according to the indictment, which also stated Belzinskas maintained personal accounts at the credit union.
According to federal prosecutors, from 2007 through July 2013 Belzinskas conspired with others, including former TLCU CEO Alex Spirikaitis—now serving a 10-year term for his crimes—to defraud the credit union.
Prosecutors claim, Belzinskas withdrew approximately $436,026 from his personal accounts during this time for which there were insufficient funds.
Belzinskas did not follow established procedures for overdrafts and Spirikaitis made multiple transfers to cover the overdrafts, according to the indictment.
Taupa Lithuanian was put into receivership by NCUA in 2013. Six people have been convicted of fraud related to the CU’s failure, including Spirikaitis.
Editor's Note: An earlier version of this story incorrectly stated in the headline that Mr. Belzinskas has been convicted. No verdict has been reached. The action taken was an indictment.