$95M JAFCU Scandal: New Fight Over Mansion And Frozen Millions
By CU Today Staff —
JACKSON, Miss.—Former Jackson Area Federal Credit Union CEO Leigh Bridges is opposing the appointment of a trustee to oversee her property as her husband seeks access to frozen retirement funds and a third defendant denies knowingly participating in the alleged $95-million embezzlement scheme.
The NCUA board asked a federal judge last week to appoint a trustee to reduce the cost of securing and maintaining properties while its civil lawsuit against Bridges, her husband, Chad Bridges, and former JAFCU branch manager Tina Funez remains pending. Leigh Bridges countered that the spending has been “unnecessary, wasteful, and wholly unwarranted,” WLBT reported.
The dispute centers largely on the couple’s Sleepy Hollow Drive residence in Jackson. Bridges said she voluntarily vacated the home and continues paying its utilities, repairs and upkeep. She said the property is “completely fenced and gated in and had a security monitoring company... until August 1, 2026... The residence also has a Ring Video Camera at the front door, as well as additional cameras monitoring the perimeter.”
“Further, the residence is fully insured for $2.1 million, and the insurance is current,” Bridges said in the filing quoted by WLBT. “Under these circumstances, NCUAB’s unbelievable expenditure of $225,6562.50 was unnecessary, wasteful and wholly unwarranted.”
Bridges also renewed her request for a brief stay of the civil case until an expected criminal proceeding is resolved. The NCUA has argued a stay is unnecessary because Bridges is expected to plead guilty, but her attorney wrote, “Defendant’s criminal charge is imminent and your defendant, Leigh Bridges could not fully answer the amended complaint due to concerns about her Fifth Amendment privilege and had to assert the same. This court should grant a brief stay to allow the criminal process to conclude - which is not anticipated to be long - and revisit this civil lawsuit.”
Separately, Chad Bridges asked the court to release a Raymond James IRA and a Mississippi deferred compensation account from the asset freeze, WAPT reported. He maintains both were funded through his employment and are unrelated to the alleged JAFCU losses. According to WAPT, Bridges said the deferred compensation contributions came through payroll deductions during his employment with the Mississippi Insurance Department, while the only IRA deposit during the past decade was an $86,479 rollover from a former pension plan. He said he lost his job after the lawsuit became public, receives approximately $235 weekly in unemployment benefits and needs the funds for living expenses, property costs and legal fees.
Funez, meanwhile, filed a response denying wrongdoing and seeking dismissal of the claims against her, according to WAPT. She acknowledged using an American Express account belonging to Leigh Bridges and receiving money from the couple but denied knowingly participating in misconduct or accepting funds she knew had been improperly obtained.
The court has not ruled on the trustee request, Leigh Bridges’ requested stay, Chad Bridges’ request for access to the retirement accounts or Funez’s dismissal request. No criminal charges against Leigh Bridges had been publicly filed as of the latest reports. As CUToday.info most recently reported, she invoked her Fifth Amendment right at least 16 times in responding to the NCUA’s amended complaint.
Originally reported by CU Today.