Studio City Credit Union Manager Accused Of Stealing Millions

LOS ANGELES, CA — A 52-year-old credit union manager from Studio City has been arrested for allegedly forging checks and depositing millions of dollars in ill-gotten gains into his own accounts.

Edward Rostohar was arrested on Tuesday on suspicion of grand theft, with bail set at $120,000, according to Detective Oscar Garza of the Los Angeles Police Department's Commercial Crimes Division.

"While employed as a manager for a financial institution in Los Angeles, Rostohar forged numerous company checks made payable to himself," according to an LAPD statement. "Rostohar then deposited the checks into several of his bank accounts and later withdrew the money in cash. The total amount of the checks is estimated to be in the millions."

The credit union is conducting a forensic audit "and estimates the loss to be substantially higher," police said.

Police recovered an unspecified amount of cash from Rostohar's home.

Rostohar's custody status was not immediately available. He is next due to appear in court in downtown Los Angeles on April 5, Garza said.

Anyone with information about the case was urged to call Garza or fellow Commercial Crimes Division Detective Michelle Esquivel at (213) 486- 6630.

City News Service