Saturday, October 12, 2019

Former Officials at Municipal CU Charged by Federal Law Enforcement

Two former officials at Municipal Credit Union (New York, NY) were charged by Federal authorities for obstruction of justice and financial fraud.

Sylvia Ash, presiding judge of the Kings County Supreme Court, Commercial Division, and former chair of the board of directors of Municipal Credit Union (MCU), was charged in Manhattan federal court with conspiracy to obstruct justice and obstruction of justice, arising from a scheme to seek to influence and impede an ongoing federal investigation into fraud and corruption at MCU associated with former CEO Kam Wong. Ash made false and misleading statements, as well as she deleted and concealed relevant text messages.

Joseph Guagliardo, a/k/a “Joseph Gagliardo,” a former New York City Police Department Officer and former member of MCU’s supervisory committee, was charged separately with embezzlement, fraud, and controlled substance offenses arising from abuse of his position as a member of the supervisory committee.

Municipal Credit Union is currently under conservatorship with the National Credit Union Administration.

The defendants are presumed innocent unless and until proven guilty.

Read the press release.

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