Former CEO Of Melrose Credit Union, Alan Kaufman Convicted Of Bribery Schemes In Manhattan Federal Court
(STL.News) Audrey Strauss, the United States Attorney for the Southern District of New York, announced the conviction in Manhattan federal court of ALAN KAUFMAN for participating in a scheme in which KAUFMAN, who was then the Chief Executive Officer of Melrose Credit Union (“Melrose CU”), accepted rent-free housing and financing for the purchase of his personal residence from Tony Georgiton as a reward for the approval of millions of dollars in loans to Georgiton’s companies at favorable terms. KAUFMAN was also convicted for accepting lavish vacations, including to Paris and Hawaii, from a media company and other vendors, as a reward for Melrose CU purchasing increased advertising from those companies. The jury convicted KAUFMAN today following a two-week trial before U.S. District Judge Lewis A. Kaplan. Georgiton pleaded guilty before Judge Kaplan on September 9, 2020.
U.S. Attorney Audrey Strauss said: “A unanimous Manhattan jury has found that Alan Kaufman, the former CEO of Melrose Credit Union, accepted luxurious gifts from Georgiton as a reward for favorable loan rates for his companies. In doing so, Kaufman shirked his fiduciary obligation to act in the best interests of Melrose to instead exploit his control of union funds for his own personal gain.