JACKSON, Miss. — The former president and CEO of Jackson Area Federal Credit Union repeatedly invoked her Fifth Amendment right against self-incrimination in a federal civil lawsuit accusing her of misappropriating about $95 million from the credit union, as her attorneys say criminal charges arising from the same conduct are expected.
Leigh Bridges invoked the Fifth Amendment at least 16 times in an answer filed earlier this week in U.S. District Court for the Southern District of Mississippi, according to Jackson television station WLBT. Bridges said responding to many of the allegations made by the National Credit Union Administration could potentially be used against her in a criminal proceeding.
The NCUA Board, acting as conservator for Jackson Area Federal Credit Union, has accused Bridges of using fraudulent accounting entries, wire transfers and other transactions to divert credit union money for personal expenses over a period spanning years, as the CU Daily reported here.
Money Judgements Sought
The agency’s amended complaint seeks money judgments against Bridges on claims including fraud, conversion, breach of fiduciary duty and violations of federal credit union law. It also seeks to recover allegedly fraudulent transfers involving her husband, Chad Bridges, and former Jackson Area FCU branch manager Tina Funez, WLBT reported.
In her response, Bridges invoked her Fifth Amendment rights in connection with allegations involving the misappropriation of credit union funds; transactions involving her husband’s accounts; transactions involving Funez; fraudulent representations involving financial statements and transactions; conversion; breach of fiduciary duty; personal liability; and fraudulent transfers under federal and state law, the report added.
Declined to Respond
She also declined to respond to certain allegations involving Chad Bridges and Funez to the extent those claims could be directed at her.
The filing does not constitute an admission of the allegations. The Fifth Amendment protects individuals from being compelled to provide testimony that could incriminate them.
Criminal Charges Expected
The response comes days after Bridges asked U.S. District Judge Daniel P. Jordan III to stay the NCUA’s civil lawsuit because of an anticipated federal criminal prosecution.
According to WLBT, Bridges’ attorney said in the motion that he contacted the U.S. Attorney’s Office for the Southern District of Mississippi and understood that a criminal prosecution involving the same alleged conduct had begun. Bridges and her attorney subsequently met with an assistant U.S. attorney who told them criminal charges would be filed, according to the motion.
Bridges argued that allowing the civil case to proceed while a criminal case is pending could force her to choose between defending herself against the NCUA’s allegations and preserving her constitutional right against self-incrimination.
The court had not ruled on the request for a stay as of Monday, WLBT reported. No criminal filing involving Bridges was available on the federal court’s website at that time.
NCUA Alleges Years-Long Scheme
As the CU Daily has been reporting, Bridges worked at Jackson Area FCU for about 30 years and served as president and CEO from 2021 until April 2026. She previously served as the credit union’s chief financial officer.
The NCUA alleges the misconduct stretched back to at least 2015 and involved false entries that made money transferred into personal accounts appear to remain among the credit union’s assets.
Regulators began investigating unusual transactions after identifying anomalies that included a $378,780 wire transfer involving Tiffany & Co. Corporate America Credit Unionsubsequently identified at least 16 anomalous or unusual wire transfers between May 2021 and June 2024, along with unusual checks presented against Bridges’ account, according to court records.
More Than $50 Million in False Entries Alleged
The NCUA alleges more than $51 million in false entries were made involving share accounts between 2015 and 2026. The broader alleged losses ultimately created a deficit of approximately $95 million between Jackson Area FCU’s actual financial position and what its books showed.
The agency has alleged that credit union funds were used for an array of personal expenditures, including luxury jewelry and handbags, credit card payments, vehicles, real estate and improvements to properties. Among the transactions detailed in court records were millions of dollars involving a Jackson luxury jewelry and handbag retailer and purchases of a Tesla and other vehicles.
The NCUA placed Jackson Area FCU into conservatorship in May, citing unsafe and unsound practices.
Financial Accounts Frozen
In July, Jordan granted a preliminary injunction freezing financial accounts and other assets belonging to Leigh Bridges, Chad Bridges and Funez while the civil case proceeds. The order also prevents the defendants from transferring or disposing of covered assets.
Chad Bridges filed a separate answer Aug. 11 denying most of the allegations against him. He maintained that he was a “mere title holder” with respect to certain accounts and did not exercise control over them, according to WLBT.
The civil case remains pending.
