NCUA bans former credit union lending officer

The NCUA announced Thursday that William Liddle, former lending officer at AEA Federal Credit Union, has been banned from participating in the matters of any federally insured financial institution.

Liddle was convicted in 2012 of conspiracy, wire fraud, fraud and transactional money laundering. He was sentenced to 15 years in jail, five years of release under supervision and had to pay a fine of more than $25 million.

The NCUA placed the AEA FCU in conservatorship in December 2010 after a loan kickback scheme by Liddle and other culprits. The FBI investigated the situation and found that Liddle approved more than $25 million in fraudulent business loans. Click here to learn more.