Concord Native John Struna Charged Again in Alleged Taupa Lithuanian Fraud Scandal

investor rights attorneyFor the second time in 2014, federal prosecutors in Cleveland, Ohio have moved to bring felony charges against John Struna, 52, and of Concord, Ohio for allegedly embezzling $2.3 million in a far-reaching fraud case that culminated in the July 2013 collapse of the $23.6 million Taupa Lithuanian Credit Union in Cleveland.

John Struna was indicted on August 20, 2014 on one count each for alleged conspiracy to commit bank fraud, bank fraud, and making false statements, according to court documents. In addition, Struna was also indicted on four counts of money laundering.

Prosecutors then reportedly said that Struna changed his plea in mid-November on four counts of alleged money laundering and single counts of bank fraud, conspiracy to commit bank fraud and making false statements.

From 2002 to 2013, Struna allegedly conspired with Alex Spirikaitis, the former president/CEO of Taupa Lithuanian, and Spirikaitis reportedly made 46 fraudulent transfers into Struna’s accounts that run up a grand sum of $2.3 million, according to reports from Ohio.

The indictment against Struna alleges that he did not submit any credit applications or loan documents, and repaid only $15,000 of the $2.3 million.

With the alleged siphoned funds, Struna managed to build a $1.6 million home in the upscale Cleveland suburb of Concor, paid for a stadium luxury suite at Cleveland Browns games, and bought nine luxury vehicles.

Investment Fraud Lawyers Investigating

The Peiffer Rosca Wolf investment recovery lawyers often represent investors who lose money as a result of investment fraud. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of investment fraud or misconduct may contact the investment recovery lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.