WHEELING - Federal prosecutors believe $5 million of the $9 million missing from a failed Wheeling credit union can be traced to Bernie D. Metz, the financial institution's former chief executive officer.
U.S. marshals arrested Metz, 56, of 279A McCoy Road, Valley Grove, on Tuesday and seized six vehicles, three bank accounts and one parcel of real estate. Marshals also seized the Roadworthy Restaurant and Tavern in West Liberty as part of the ongoing investigation into the failure of Center Valley Federal Credit Union.
U.S. Attorney Sharon L. Potter said federal marshals arrested Metz on a criminal complaint charging her with embezzlement.
An affidavit filed in support of the criminal complaint stated there was probable cause to believe Metz, former CEO and manager of Center Valley Federal Credit Union, misappropriated money from the credit union and diverted the proceeds to benefit herself, her husband, her children, and companies controlled by Metz and her husband.
Metz appeared Tuesday before U.S. Magistrate James E. Seibert, who released her on a $1 million personal recognizance bond.
Assistant U.S. Attorney Robert McWilliams told Seibert "$5 million of the $9 million missing from the credit union can be traced to Bernie D. Metz."
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WHAT FEDS SEIZED
Federal marshals executed seizure warrants and/or protective orders Tuesday on several vehicles and properties:
- A restaurant and cabins known as the Roadworthy Restaurant and Tavern and/or the Roadworthy Resort in West Liberty, owned by RHEA DAN Development LLC.
- Residential property located in Valley Grove owned by Bernie D. Metz and her husband.
- A 2005 Toyota Tundra, a 2005 Mercedes, a 2008 Mercedes, a 2008 Toyota, a 1970 Volkswagen CP, a 2008 Chevrolet Tahoe and a 2009 Mercedes SLK 300.
- Three bank accounts held at
Progressive Bank.
As part of her bond, Seibert ordered that Metz cannot obtain a passport, that her travel is restricted to the northern district of West Virginia and to the western district of Pennsylvania to meet with her attorney, and she cannot transfer any assets or make any transactions involving $1,000 or more without permission of the court.
Potter - who said a conviction could result in 30 years in prison and a $1 million fine - said the credit union is insured by the National Credit Union Administration Board.