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Former Credit Union CEO pleads guilty to embezzlement

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Flickr User 401(K) 2012
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A former CEO of a Saginaw area Credit Union pleaded guilty Monday to embezzling more than $700,000.

Former credit union CEO Stanley Hayes was charged with 13 felonies. Investigators said he stole $710,000 and used the money on things like car insurance, property taxes, and personal travel.

Hayes is scheduled to be sentenced on April 4th.