The accounts of the three individuals accused of being involved in a $95 million Jackson Area Federal Credit Union embezzlement scheme have been frozen.
JAFCU is suing former CEO Leigh Bridges and her husband, Chad, along with former credit union branch manager Tina Funez. Funez is also reported to be a personal friend of the Bridges family. The trio is alleged to have used JAFCU funds on credit for lavish purposes, including purchasing expensive jewelry, luxury vehicles, homes in and outside of Mississippi, with Leigh allegedly being the ring leader.
In response to the civil suit’s allegations, U.S. Judge Daniel P. Jordan III approved an injunction sought by JAFCU to freeze all financial accounts held by each defendant. The Bridges and Funez will be barred from transferring or withdrawing funds until a final judgment is reached in this case.
The National Credit Union Administration Board serves as the conservator of JAFCU. Officials with NCUAB, in the civil suit, say Leigh Bridges admitted to abusing funds within her office and concealing her transactions.
Concerns were first raised in June 2024 when investigators with the National Credit Union Administration, a partner that reviewed JAFCU’s transactions, found that Leigh Bridges had allegedly wired $378,780 to jewelry retailer Tiffany & Co. The transaction, however, was reportedly deceptively altered to have investment banking giant Raymond James as the beneficiary.
This triggered further investigation into Leigh Bridges’ wire activity, which is said to have uncovered tens of millions in misspent funds. After auditors began assessing the JAFCU president’s account activity, she allegedly pivoted to her husband’s account as a channel for fraud.
Chad Bridges had been employed by the Mississippi Insurance Department since 2004 and was named the agency’s director of the Financial and Market Regulation Division in 2024. His JAFCU account was allegedly used for a similar purpose as Leigh’s — credit card payments, luxury item purchases, and more. The Mississippi Insurance Department confirmed in June that Chad Bridges had been placed on administrative leave.
Funez, who told an NCUAB attorney that she developed a friendship with Leigh Bridges in the early 2000s, is also being sued. The friendship reportedly resulted in Funez moving to Mississippi and allegedly misusing funds with Leigh Bridges’ approval.
Funez’s alleged involvement in the scheme entailed her spending more than $500,000 with an American Express credit card issued to her by Leigh Bridges. Leigh is said to have paid all the statements. Funez also lived in a northeast Jackson townhouse owned by the Bridges and accompanied the family on vacations, several of which were traveled to on charter jets.
Leigh Bridges, per the court filing, even assisted Funez in purchasing a single-family residence located in Honduras. Funez said that the home had previously been owned by her grandmother.
At this time, the three defendants are not facing criminal charges. NCUAB has requested a jury trial with hopes of recovering the funds that were allegedly misspent. A trial date has not been set. As part of the judge’s most recent order, however, they are required to maintain their properties and continue insuring them to keep their value from declining. Funez specifically cannot sell the Honduras home.
The trio is also ordered to cooperate with NCUAB if the entity seeks to seize tangible items valued over $100. The Bridges are prohibited from “unnecessary” travel, but will be allowed to drive within city of Jackson limits. They are also allowed to commute anywhere to fulfill legal requirements in this case and to attend medical appointments.
