If You Thought the Franklin Scandal Couldn’t Get Worse

Everybody in Omaha knew about this story, and everybody knew somebody connected to it. Franklin Federal Credit Union seemed to be all right until an audit of King’s taxes revealed what appeared to be some missing funds. A phony “certificates of deposit” scheme. Initially it was thought that $400,000 had disappeared. Then $4 million. Ultimately $40 million was determined to have vanished.

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