Former League CEO Indicted On TheftCharges

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TRENTON, N.J. - (09/05/05) -- The former president and CEO of theNew Jersey CU League was indicted Friday on charges of embezzling$275,000 from the state trade association. Thomas Shaughnessy, 44,of Red Bank, is accused of stealing the funds between March 2002and September 2004. Meantime, Shaughnessy has filed suit againstthe league claiming he should have been paid a severance packagewhen he was fired last October.

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