WHEELING, W.V. – The former CEO of defunct Center Valley FCU was indicted on charges of embezzling $9 million of the failed credit union’s $17 million in deposits.
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The indictment against 57-year-old Bernie Metz was returned yesterday.
Metz is accused of stealing the money over a five-year period and using it to fund her and her husband’s business, a restaurant and inn, as well as using it to buy homes and cars.
The one-time $8 million credit union, was closed on Feb. 13 after NCUA uncovered discrepancies in the books. The books indicated the credit union’s 3,150 members had more than $17 million on deposit, but NCUA was only able to find about $8 million. They believe the rest was stolen by Metz.
