The former CEO of a now-defunct Wheeling credit union has been charged in federal court with embezzling millions of dollars from the institution.

U.S. Attorney Sharon N. Potter said Bernie D. Metz, 56, of Valley Grove was arrested July 21 for allegedly diverting money from the former Center Valley Federal Credit Union for her own gain.

An indictment is a document that formally charges an individual with committing a crime. They are not evidence of guilt, and each defendant is presumed innocent until and unless proven guilty.

The government alleges Metz “misappropriated monies from the credit union and diverted the embezzlement’s proceeds to benefit herself, her husband, her children and companies” she and her husband controlled.

As much as $9 million is believed missing from the credit union’s accounts, though to date not all of that has been traced to Metz, Potter said.

“An affidavit filed yesterday by the FBI alleged several million dollars had been traced to Metz, most of it to the Roadworthy Restaurant she and her family operate in Ohio County,” Potter said.

According to authorities, the alleged scheme began to unravel in February, when the National Credit Union Administration forced Center Valley into involuntary liquidation and subsequently began investigating the reasons for the credit union’s failure, discovering $8,991,313 was missing from member accounts. At the time, Center Valley, chartered in 1975 to serve employees of Ohio Valley Medical Center and South Wheeling, served 3,150 members and had about $8 million in deposits.

The affidavit said Metz had attributed her income to an inheritance.

“However, the financial investigation has not located any lawful incoming transactions or any other legitimate source of funds in excess of salaries to Metz and her husband,” it noted.

The government alleges the missing money helped fund the Metz family’s lifestyle, paying for improvements to the couple’s home in Valley Grove; new cars for Metz, her husband and children; credit card bills as well as the restaurant. Seized in connection with the investigation were eight vehicles — two Mercedes, a Toyota Tundra, a Chevy Tahoe, a vintage Ford Thunderbird, two other Toyotas and two Volkswagens — belonging to Metz and her husband, along with her home in Valley Grove, three bank accounts, a business venture, the Roadworthy Restaurant and cabins in West Liberty. A seizure warrant also has been obtained for a 2009 Mercedes SLK 300.

If convicted, Metz faces up to 30 years in prison and a $1 million fine. Now free on bond, she is prohibited from leaving the Northern District of West Virginia except for meetings with her lawyer and is barred from transferring any assets without court approval.

Accounts at the credit union are insured by the National Credit Union Administration Board, Potter said.