Feds Target CEO and 3 Other Employees in Investigation of $1.275 Million Loss at Alabama CU
Numerous credit union members have filed civil suits against Alabama One CU alleging they were encouraged to take out personal loans and then lend the proceeds to businessman Danny Ray Butler in order to help him pay off his $20 million dollar loan to the credit union. Butler, who was indicted last year for bank fraud, has signed a plea agreement with federal prosecutors to provide information about others who knew about his crimes. [3/17]