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A long-time manager at the CBS Employees Federal Credit Union in Studio City faces arraignment April 18 on federal charges for allegedly embezzling $40 million from his employer over two decades, leading the financial cooperative to be declared insolvent Friday by a government agency.
Edward Martin Rostohar, 62, of Studio City, spent the money on gambling, expensive cars, watches and travel by private jet, federal prosecutors allege.
Rostohar faces between two and 30 years in federal prison and a $1 million fine if convicted of one felony count each of bank fraud and aggravated identity theft, according to the U.S. Attorneys Office.
Rostohar was arrested on March 12 and ordered detained pending trial by a federa…
Read the full article at: https://mynewsla.com/crime/2019/03/29/studio-city-man-who-allegedly-embezzled-40-million-faces-federal-charges/