$95M Jackson Area FCU Case Turns Criminal: Charges ‘Will Be Filed Shortly’ Against Former CEO
By CU Today Staff —
JACKSON, Miss. — Federal criminal charges are expected to be filed against former Jackson Area FCU President and CEO Leigh Bridges as the NCUA’s civil case seeking recovery of approximately $95 million in allegedly misappropriated funds continues to move forward, according to new federal court filings.
In a motion filed Aug. 11 seeking to stay the civil action, Bridges’ attorneys said they met with assistant U.S. attorneys handling a criminal investigation and were informed charges “will be filed shortly.” The filing says that although Bridges had not yet been indicted, prosecutors intend to file a Bill of Information charging her under 18 U.S.C. §§ 657 and 1006 and 26 U.S.C. § 7206, stemming from the same alleged conduct underlying the NCUA lawsuit.
Bridges is asking U.S. District Judge Daniel Jordan to stay the NCUA case until the criminal proceeding is resolved, arguing the two matters involve essentially identical allegations and that continuing with civil discovery would force her to choose between defending the lawsuit and exercising her Fifth Amendment right against self-incrimination.
Meanwhile, Chad Bridges, Leigh Bridges’ husband and a co-defendant, filed his answer to the NCUA’s amended complaint Aug. 11, denying wrongdoing and contending he was merely a “title holder and innocent owner” of property and accounts allegedly connected to the scheme. He maintains he lacked knowledge of and did not participate in the alleged misconduct and is asking the court to dismiss the claims against him.
As CUToday.info has reported, the NCUA alleges Leigh Bridges began misappropriating funds as early as 2015 and ultimately diverted approximately $95 million through fraudulent transactions, false accounting entries and transfers used to finance luxury vehicles, jewelry, designer goods, real estate and other spending.
The agency placed the credit union into conservatorship May 6, 2026, and later expanded its lawsuit to include Chad Bridges and former branch manager Tina Funez. A federal judge subsequently froze financial accounts, real estate and other assets tied to the defendants while the NCUA attempts to recover the money.
The financial damage has since become clearer. As CUToday.info reported earlier this month, Jackson Area FCU’s June 30 Call Report showed assets had fallen to $60.9 million from $162.4 million at year-end, while the credit union reported a $103-million year-to-date loss, negative net worth of $88.5 million and a negative net worth ratio of 145.4%. Until the latest filing, the case had remained a civil matter with no publicly announced criminal charges.
Originally reported by CU Today.