A federal judge has signed a warrant to seize a $1 million homethat federal prosecutors allege was built with funds embezzled byAlex R. Spirikaitis, an FBI fugitive and former president/CEO ofthe $23.6 million Taupa Lithuanian in Cleveland that was closed and liquidated inJuly by the NCUA.

Spirikaitis' wife, Julie A. Spirikaitis, who is co-owner of thehome, has voluntarily signed an agreement consenting to and waivingany court hearing concerning the seizure of the home, courtdocuments show. She has moved into another home with her twochildren.

Moreover, federal prosecutors said there are “exigentcircumstances” to take over the property to protect it fromvandalism and to winterize the home located in Solon, a suburbabout 25 miles southeast of Cleveland.

“Because the subject property is vacant, only governmentpossession and control of the property is sufficient to preventvandalism and to prepare the property for cold weather,” statecourt papers.

The property is considered a “high end property” containing “any number of valuable fixturesand improvements,” according to court documents.

A neighbor has told the Credit Union Times that thelarge rustic-sided home has a wrap-around porch, an indoor pool andan elevator. It sits on five acres and a 400-foot driveway leads toa water fountain in front of the home.

U.S. District Court Judge John R. Adams in Akron signed awarrant on Aug. 29, allowing federal authorities to seize theproperty.

Court documents state that Alex Spirikaitis' “whereabouts areunknown.”

The FBI search for Spirikaitis began on July 16 when localpolice thought they were in a standoff after arriving at the home to arrest him at around 8p.m. However, when authorities entered the home the next morning,he was not there.

For safety's sake for the residential neighborhood, policewaited until daybreak for tactical teams to move in. Additionally,the size of the large home played a part in the decision to waituntil daylight before entering, according to the FBI.

The official charge the FBI has brought against Spirikaitis, making false credit institution entries, is anunusual one. The charge falls under the embezzlement category, andbecause it is one that could be quickly proven, FBI officialsutilized the charge so authorities could quickly execute an arrestwarrant.

In November 2012, Spirikaitis moved into the new home with hiswife and their two children. Court documents show the constructionof the home, which took a year, was first paid for with two checkstotaling $100,000 from his TLCU personal account.

“All remaining checks – totaling approximately $1,555,132 – camefrom Spirikaitis in the form of Taupa Lithuanian Credit Unionofficial checks,” court documents state. “While working at theTaupa Lithuanian Credit Union, Spirikaitis never made in excess of$50,000.”

The home is valued at approximately $1 million, according tocourt documents.

Soon after TLCU was placed into conservatorship on July 12,NCUA auditors discovered Spirikaitis allegedly forged deposit account statements fromthe credit union's accounts at the $4.5 billion Corporate OneFederal Credit Union in Columbus, Ohio and used the stolen money toconstruct the home.