The U.S. Attorney's Office for the Northern District of West Virginia says 56-year-old Bernie D. Metz has been arrested for allegedly stealing $1 million dollars.

Metz was the CEO of Center Valley Federal Credit Union in Wheeling, where the FBI estimates $9 million is missing.

The credit union was declared insolvent in February.

The credit union was located in rented office space at Ohio Valley Medical Center, but the medical facility says the credit union was not affiliated with OVMC.

Hospital spokeswoman Maggie Espina, says "We do not manage, do not staff and do not own the credit union."

The credit union was charted in 1975 to serve OVMC employees and was widely promoted within the hospital, with hospital employees using the service.

It has not been learned if OVMC officials have served on the credit union's board, or if there was any oversight responsibility.

Authorities are saying that Metz spent money from the credit union's accounts to purchase a small fleet of vehicles, including a $35,000 vintage Ford Thunderbird, three Mercedes, and a 1962 Volkswagen Beetle worth $20,000.

Another $700,000 went to the Roadworthy Restaurant and Tavern in West Liberty for improvements and operating costs.

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