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CU System
Ex-Central Valley FCU CEO charged in 1M embezzlement
WHEELING, W.Va. (7/22/09)--A former credit union CEO was arrested Tuesday on federal charges of embezzlement from a West Virginia-based credit union. Bernie D. Metz, 56, former CEO of the now-defunct Wheeling, W.Va.-based Center Valley FCU, is accused of embezzling more than $1 million from the credit union, said U.S. Attorney Sharon L. Potter (WTOV9.com July 21). Metz's residence, three bank accounts and six vehicles were seized by authorities in an ongoing investigation into the failure of the credit union. Metz allegedly misappropriated money from Center Valley and diverted the embezzled funds to benefit herself, her husband, her children and companies that she and her husband controlled, according to information filed in the criminal complaint. Metz was released on bond, pending further court proceedings after appearing Tuesday before Magistrate Judge James E. Seibert. Charges in the criminal complaint carry a maximum penalty of 30 years in prison and a fine of $1 million.


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