News and Press Releases

Eastlake man sentenced to 27 months in prison, ordered to pay $1 million

March 18, 2013

An Eastlake man was sentenced to more than two years in prison and ordered to pay $1 million for his role in a fraud against St. Paul Croatian Federal Credit Union, said Steven M. Dettelbach.

Marko Nikoli, age 35, pleaded guilty last year to two counts of bank fraud and one count of money laundering.

U.S. District Judge Christopher A. Boyko sentenced Nikoli to 27 months in prison.

SPCFCU, located in Eastlake, was placed into conservatorship by the National Credit Union Administration on April 23, 2010. One week later, the NCUA liquidated SPFCFU and discontinued its operations after determining the credit union was insolvent. At that time, SPCFCU served about 5,400 members and was believed to have assets of approximated $239 million.

This case is being prosecuted by Assistant U.S. Attorneys Bridget M. Brennan and Justin Herdman following an investigation by the Cleveland office of the Federal Bureau of Investigation and the Internal Revenue Service, Criminal Investigation Division.


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