An amended complaint filed in U.S. District Court, former Jackson Area Federal Credit Union president and CEO Leigh Bridges, her husband, Mississippi Department of Insurance employee Chad Bridges, and former JAFCU branch manager Tina Funez allegedly embezzled over $90 million from the credit union.
The Mississippi Department of Insurance confirmed that Chad Bridges had been placed on administrative leave. “Chad Bridges has been placed on administrative leave pending further investigation due to issues unrelated to the Mississippi Insurance Department,” according to an emailed statement from a department spokeswoman. Chad Bridges joined the department in 2004 and was listed in the suit as the director of the finance and market divisions; however, as of Tuesday morning, the department’s website no longer shows him as such.
The lawsuit claims that transfers began in 2015 and continued until 2026, totalling $51 million in automated clearing house transactions, wire transfers, and fake ledger entries. Another $15 million was used to pay credit card debts; approximately $3.3 million was paid for fraudulent cheques at a luxury jewellery and handbag store; and additional transfers funded purchases such as nearly $1 million to a construction company, more than $250,000 to an interior design business, nearly $130,000 for a Steinway piano, and luxury vehicle purchases.
According to the lawsuit, Leigh Bridges became president of JAFCU in 2021 and had the authority to execute account reconciliations. On April 17, 2026, she allegedly revealed to two JAFCU board members and two National Credit Union Administration examiners that she misused monies and created fake entries to conceal the conduct. The complaint claims her conduct resulted in a financial loss of at least $95 million.
According to the lawsuit, Leigh Bridges funnelled large amounts of money through her husband’s accounts, moving approximately $26 million from May 2019 to May 2026, and the couple’s reported 2025 incomes — approximately $193,000 for Leigh Bridges and approximately $86,000 for Chad Bridges — were insufficient to cover the expenses. The suit also claims Funez received several presents, including a 2023 Tesla Model Y; jewellery; at least 30 purses; private vacations; property repairs and acquisitions on the island of Utila; and monetary gifts totalling more than $480,000. The new complaint wants a jury trial, according to the document.
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