An Ironton credit union officer has been arrested for theft by deception, a third degree felony.

Capt. Chris Bowman, a detective with the Ironton Police Department said that Doug Calhoun, 60, of Russell, Ky. was arrested Saturday morning on a fugitive from justice warrant issued from the Ironton Municipal Court.

Bowman said the Ohio Department of Commerce, Division of Financial Institutions, began investigating the banker who was the treasurer of the Ironton SSP Credit Union located at the Masonic Temple in downtown Ironton.

Bowman said the Commerce Department agents gave the city police information on the investigation on Thursday. IPD officers received Calhoun's arrest warrant Friday.

Calhoun did not report to work when he learned the Commerce agents were beginning an audit into the credit union's books. He left the agents a note on the business' door.

Bowman said it is not yet known how much money Calhoun allegedly took from the credit union. He said the state agents will continue their investigation into the institution's finances.

Investors with the credit union are advised that they will receive a notice from the Commerce Department as the investigation continues.

A civil suit has also been filed in the Lawrence County Common Pleas Court against the credit union for alleged misappropriation of money stemming from the case.

Calhoun will go before a Greenup County, Ky. judge for an extradition hearing to face charges in Ohio. Jeremy Schneider/The Ironton Tribune