Credit union CEO accused of embezzling millions, buying lotto tickets

Posted: Updated:
VALLEY STREAM -

Officials say the Long Islander who runs the Municipal Credit Union is accused of embezzling millions of dollars and spent much of it on lottery tickets.

Kam Wong, of Valley Stream, was arrested on Monday and charged with embezzlement and bank fraud.

Wong is accused of submitting fake bills for dental work and getting other payments under “questionable circumstances.”

Investigators say Wong spent nearly $3.6 million on lottery tickets and withdrew $1.9 million from ATMs.

If convicted, Wong faces up to 30 years in prison.

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