Lawyers Hope to Reach Plea Deal in Michael LaJoice Embezzlement Case [VIDEO]

It's been eight months since Michael LaJoice was arrested on embezzlement charges, after confessing that he stole nearly $20 million from an Oakland County credit union. Now his lawyer says he is hoping to strike a plea deal before the case goes to trial.

Defense attorney Michael Manley tells WXYZ that many of LaJoice's assets are being sold, in an attempt to have some of his financial woes sorted out before his case is scheduled to go to trial in December. Manley tells Mlive that he anticipates that the case can be settled before it goes before a jury.

Manley says about $1 million worth of LaJoice's downtown Fenton assets have been liquidated, and anticipates that a buyer will close on the $4.5 million custom-built home in Tyrone Township in October. He hopes that liquidating assets and recouping as much money as possible will reduce the number of years LaJoice spends in prison.

"We're looking at significant prison time and that's why we're doing all this work – to mitigate as much as we can and put Mr. LaJoice in a more favorable light."

Michael LaJoice faces up to 20 years in prison on charges made in Oakland County, but could face additional time on federal charges.