Former MCU board chair pleads not guilty as CU reports drastic membership & revenue loss
According to the NCUA's Call Reports, the credit union's net worth has plummeted from 8.26% to 3.87%.
Sylvia Ash, a New York judge and former board chair of the $2.9 billion Municipal Credit Union, pleaded not guilty to three obstruction of justice charges in U.S. District Court in Manhattan Monday.
However, she may have another problem —- her lawyer.
During the court hearing, federal prosecutors alleged that her Brooklyn-based lawyer, Roger Archibald, signed off on documents prosecutors say contain false statements allegedly made by Ash, the New York Post reported. No decision was reportedly made about this alleged conflict of interest issue. Archibald did not return a phone call and email messages sent by CU Times seeking comment by a Tuesday morning deadline.
Prosecutors filed an indictment against Ash that charges her with one felony count of conspiracy to obstruct justice, a second felony count of obstruction of justice for falsifying records during a federal investigation and a third felony count of obstruction of justice to tampering with a witness, victim or informant.
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