The US Department of Justice has charged the head of New York’s oldest credit union with blowing over $3.5m in stolen funds on lottery tickets.

On Tuesday, the US Attorney for the Southern District of New York filed charges of embezzlement, fraud, wire fraud and aggravated identity theft against Kam Wong, the CEO and president of Municipal Credit Union.

The 62-year-old Wong (pictured) reportedly defrauded the credit union through a variety of means, including $440k in sham expense reimbursements for dental work never performed on him or paid by him, thereby pocketing earnings that were supposed to be shared with the credit union’s 425k members.

Wong also stands accused of obtaining $3.6m in cash payments in lieu of a long-term disability insurance policy and another $3.1m to cover the personal taxes on those payments. Wong had a habit of “testing” Municipal’s ATMs by making unauthorized cash withdrawals with a Municipal business credit card and claimed unwarranted payments for 320 days of unused sick leave.