Alex Spirikaitis, 42, personally embezzled $4.2million, and enabled a $15million fraud . The former chief executive officer of a credit union in northeast Ohio has been found guilty of enabling $15 million fraud. Alex Spirikaitis, 42, was sentenced to 11 years in prison by a federal court in Cleveland on Monday. He had pleaded guilty earlier this year to one count of conspiracy to commit bank fraud. Spirikaitis was accused of personally embezzling more than $4.2million from the Cleveland-based Taupa Lithuanian Credit Union between 2001 and 2013 and misrepresenting credit union assets to regulators. He also enabled others to steal more than $10million of the credit union's $24million assets. Spirikaitis used his share of the stolen millions to build himself a $1.6million home in a Cleveland suburb, a luxury suite at FirstEnergy Stadium for Cleveland Browns' football games, and nine cars. Police confiscated a large collection of semi-automatic weapons, including a Thompson replica machine gun, five rifles and 45 caliber pistol. They also found more than 10,000 rounds of ammunition, stored at the credit union's Cleveland office. Spirikaitis requested a lighter sentence through his lawyer, as he has two special needs children, one of whom is severely disabled, wkyc.com reports. His lawyer, Darin Thompson, said a long-term prison sentence would put a huge burden on his ex-wife, who would become sole carer to their two children. Credit union CEO Spirikaitis, spent his stolen millions on a $1.6m home in an upmarket Cleveland suburb, nine cars, an arsenal of semi-automatic weapons and box seats to Cleveland Browns' football games . 'It's a fairly sad day when an individual uses the impairments of their children and their wife to benefit themselves,' U.S. District Judge James Gwin said according to wkyc.com. 'He knew going into this (fraud scheme) that he had kids with special needs. You had a credit union with $24 million in assets and he stole $15 million. He knew it was going to be discovered.' The National Credit Union Administration and the state of Ohio took over the credit union in July and placed it in receivership. It had about 1,150 members. Spirikaitus was sentenced to 130 months in prison and ordered to pay $15 million in restitution. Two others also were charged.
Alex Spirikaitis, 42, defrauded credit union in Cleveland, Ohio .
He personally embezzled $4.2million, and enabled a total of $15million .
He used money to build a $1.6m home and buy cars and weapons .
Former credit union CEO also secured box seats to football games .
Asked for lighter sentence because his two children are disabled .
Alex Spirikaitis, 42, personally embezzled $4.2million, and enabled a $15million fraud . The former chief executive officer of a credit union in northeast Ohio has been found guilty of enabling $15 million fraud. Alex Spirikaitis, 42, was sentenced to 11 years in prison by a federal court in Cleveland on Monday. He had pleaded guilty earlier this year to one count of conspiracy to commit bank fraud. Spirikaitis was accused of personally embezzling more than $4.2million from the Cleveland-based Taupa Lithuanian Credit Union between 2001 and 2013 and misrepresenting credit union assets to regulators. He also enabled others to steal more than $10million of the credit union's $24million assets. Spirikaitis used his share of the stolen millions to build himself a $1.6million home in a Cleveland suburb, a luxury suite at FirstEnergy Stadium for Cleveland Browns' football games, and nine cars. Police confiscated a large collection of semi-automatic weapons, including a Thompson replica machine gun, five rifles and 45 caliber pistol. They also found more than 10,000 rounds of ammunition, stored at the credit union's Cleveland office. Spirikaitis requested a lighter sentence through his lawyer, as he has two special needs children, one of whom is severely disabled, wkyc.com reports. His lawyer, Darin Thompson, said a long-term prison sentence would put a huge burden on his ex-wife, who would become sole carer to their two children. Credit union CEO Spirikaitis, spent his stolen millions on a $1.6m home in an upmarket Cleveland suburb, nine cars, an arsenal of semi-automatic weapons and box seats to Cleveland Browns' football games . 'It's a fairly sad day when an individual uses the impairments of their children and their wife to benefit themselves,' U.S. District Judge James Gwin said according to wkyc.com. 'He knew going into this (fraud scheme) that he had kids with special needs. You had a credit union with $24 million in assets and he stole $15 million. He knew it was going to be discovered.' The National Credit Union Administration and the state of Ohio took over the credit union in July and placed it in receivership. It had about 1,150 members. Spirikaitus was sentenced to 130 months in prison and ordered to pay $15 million in restitution. Two others also were charged.
Alex Spirikaitis, 42, personally embezzled $4.2million, and enabled a $15million fraud . The misrepresenting credit union assets to millions to build himself a $1.6million home in a Stadium for Cleveland Browns' football games, and union CEO Spirikaitis, spent his stolen millions on a $1.6m home in an upmarket Cleveland suburb, nine cars, an arsenal of semi-automatic weapons and box seats to Cleveland Browns' football games