Ohio man gets 2 years in prison for defrauding now-defunct credit union out of more than $3.7M

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CLEVELAND — A northeastern Ohio man was sentenced to two years in federal prison for conspiring to defraud a credit union out of more than $3.7 million.

Northeast Ohio Media Group reports (http://bit.ly/1On9jFc ) a Cleveland judge on Wednesday ordered Sako Satka, of Lakewood, to pay the money back to the National Credit Union Administration, which took over the now-defunct St. Paul Croatian Federal Credit Union in 2010.

The 66-year-old Satka pleaded guilty in June to conspiracy, bank fraud and to paying bribes to Anthony Raguz, the former head of the credit union.

Prosecutors said the 56-year-old Raguz used his position to approve numerous loans to Satka.

He is currently serving a 14-year prison sentence on charges connected to the case.

Information from: Northeast Ohio Media Group, http://www.cleveland.com

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