Embezzlement Case At Suburban Credit Union Moving Ahead

CLARKSTON, Mich. (WWJ/AP) - A former credit union official accused of embezzling millions of dollars in suburban Detroit has waived a key hearing, moving his case to trial court.

Michael LaJoice was chief financial officer at Clarkston Brandon Community Credit Union. The Oakland County sheriff's office says he stepped forward in January and said he stole $20 million over 12 years.

The Detroit Free Press says LaJoice waived a hearing Tuesday that would have required prosecutors to show some evidence against him. He's been found competent to understand the charges and assist his lawyer.

According to the credit union, serious accounting irregularities were discovered during a routine visit from the DIFS. After LaJoice was confronted about the errors, officials say he failed to show up for work the following day and was immediately terminated as CFO, a position that he held since June 2015. He then turned himself in to police.

LaJoice owned a dance studio in Fenton and put millions of dollars into his home. His lifestyle didn't appear to match his $65,000-a-year salary. He's being held in the Oakland County jail on $1 million bond.

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