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Fraud Friday — Lamar Cox Part Deux

February 24, 2017

By Bob Coleman
Editor, Fraud Friday

Fraud Friday — Lamar Cox Part Deux

Last week’s Fraud Friday covered the indictment of 73-year old Lamar Cox, the former COO of failed Tennessee Commerce Bank.

Kit Menkin, the publisher and editor of Leasing News forwarded me a blog he wrote back in 2012 detailing some eye-popping pay for the C-suite execs.

Reportedly these officers:

Michael Sapp made $727k
Frank Perez made $503k
H Lamar Cox made $640k
Charles Rogers made $947k
Martin Zorn made $663k

Of course, exorbitant pay is not criminal per se, but it does put a target on your back by the gumshoes seeking out financial malfeasance in the wake of a $417 million charge to the FDIC insurance fund when the bank closed in 2012.

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