Credit Union CFO Turns Self In To Police Claiming He Stole $20 Million

PONTIAC (WWJ) - So I guy walks into the sheriff's office and says 'I stole $20 million.'

Don't wait for the punchline -- that's what happen this week according to Oakland County Sheriff's Department.

On Wednesday, Michael LaJoice walked into the Pontiac office of the OCSD and told detectives that he had embezzled approximately $20 million over a 12 year period at the Clarkston/Brandon Credit Union in Independence Township.

Police say he was the chief financial officer at that credit union since 2003.

An investigation confirmed his statements and LaJoice was arraigned on 14 counts of embezzlement.

Bond was set at a million dollars -- he'll need to wear a GPS Tether if he posts bond.

LaJoice will be back in court on January 20, 2016.