Former credit union head sentenced for fraud

The head of a collapsed Ohio credit union has been sentenced to 14 years in prison for fraud and other charges and must repay more than $72.5 million. 53-year-old Anthony Raguz of Mentor was sentenced Monday in Cleveland federal court on his guilty plea to bank fraud, bribery and money laundering charges.  Prosecutors say he issued 1,000 fraudulent loans to customers of the St. Paul Croatian Federal Credit Union in Eastlake and accepted bribes and kickbacks. Raguz was the chief operating officer of the credit union. Judge Christopher Boyko ordered Raguz to pay more than $71.5 million in restitution. in addition to the $1 million he previously forfeited. Investigators say the scheme cost the credit union $170 million in losses that were mostly repaid by federal insurance.