Local credit union official embezzled millions

Posted at 3:33 PM, Jan 08, 2016
and last updated 2016-01-08 18:12:09-05

A Fenton man was charged on Friday after he admitted to embezzling millions of dollars from the Clarkston Brandon Community Credit Union.

According to a complaint, Michael Anthony LaJoice, 36, is facing 14 different charges, including 13 charges of embezzling $100,000 more more. The other charge is for embezzlement from a financial institution. All charges are felonies with up to 20 years in prison on each.

On the charge of embezzlement from a financial institution, LaJoice, "being a treasurer or other officer of Clarkston Brandon Community Credit Union, did embezzle, abstract or willfully misapply money, funds, credit r property of said institution."

The complaint said that LaJoice had been embezzling from the credit union from Oct. 22, 2015 through Dec. 29, 2015.

The 13 different embezzlement charges were on Oct. 22, 23, 26, Nov. 2, 9, and Dec. 2, 14 and 16.

According to the Oakland County Sheriff's Office, LaJoice walked into the headquarters in Pontiac and made a statement saying he stole about $20 million over a 12 year period. He served as the chief financial officer

LaJoice also owned Chasse Ballroom and Latin Dance Studio and LaJoice Properties in Fenton. According to MLive, LaJoice was also planning a $31 million downtown Fenton development.

He was arraigned on all 14 charges on Friday afternoon and given a $1 million bond. He will be back in court on Jan. 20 for a pre-exam conference.