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New York-based Municipal CU's board formally terminates CEO

Municipal CU's board terminated President and CEO Kam Wong, who had been placed on leave on Feb. 22.

As previously reported, Wong was charged in Manhattan federal court with one count each of embezzlement from a federally insured credit union, bank fraud, wire fraud and aggravated identify theft.

Norman Kohn is currently serving as acting president and CEO of the New York-based credit union.