Former CBS Credit Union Manager Pleads Guilty To Embezzling $40 Million
On Monday, May 20, the former manager of the CBS Employees Federal Credit Union pleaded guilty to bank fraud. There are many different forms of bank fraud, but this case deals with the embezzlement of $40 million from the Studio City-based entertainment giant.
Although women are more likely to embezzle, committing 51% of embezzlement crimes, Edward Martin Rostohar of Studio City is the guilty party in this case. According to the U.S. Attorney's Office, Rostohar could receive a sentence of up to 30 years in federal prison for his crime. Rostohar was arrested on March 12 and has been in federal custody since, as the court considered him a flight risk and economic danger to the community at the time of his arrest.
According to his plea, Rostohar admitted to embezzling this staggering amount...