PHOENIX – AEA Federal Credit Union here now is the owner of two homes that formerly were owned by local business Frank Ruiz, who is serving a two-year sentence for defrauding AEA FCU out of several million dollars.

The credit union acquired the deeds after U.S. Bankruptcy Judge James Marlar ruled Ruiz cannot avoid paying the $6.3 million in restitution he has been ordered to pay by declaring bankruptcy.

 

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