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Fraud Friday — Oregon Community Bank CEO and CFO Guilty of 13 Counts of Bank Fraud

December 1, 2017

Fraud Friday — Oregon Community Bank CEO and CFO Guilty of 13 Counts of Bank Fraud

For covering up bad loans by falsifying bank reports to their Board of Directors and regulators. The bank failed in 2012.

Dan Heine, former CEO of Bank of Oswego and Diana Yates were found guilty this week by a jury.

“As the jury found today, Dan Heine and Diana Yates violated the law by deceiving the Bank of Oswego’s board of directors, customers, and federal regulators in an attempt to conceal the organization’s true financial condition,” says Billy J. Williams, United States Attorney for the District of Oregon. “Together with our partners at the FBI and the Federal Deposit Insurance Corporation, we remain steadfast in our commitment to protecting the integrity of our financial system from fraudulent and corrupt banking practices.”

“Banks and the people who run them should serve as the cornerstone of the American economy,” says Renn Cannon, Special Agent in Charge of the FBI in Oregon. “When bankers conspire, lie, and hide wrongdoing to benefit themselves, they undercut the integrity of the financial system on which we all depend.”

Heine, 70, once named Lake Oswego’s citizen of the year, could spend much of the rest of his life in prison. Each count is punishable by 30 years imprisonment.

Sentencing for both defendants is scheduled for March 5, 2018 in Portland.

See previous Coleman Report reporting here.

Community Bank CEO & CFO Arrested for Hiding Bad Loans from the FDIC — 6/29/15
http://colemanreport.com/mug-shot-monday-community-bank-ceo-cfo-arrested-for-hiding-bad-loans-from-fdic/

Bank of Owsego Indictments — 7/6/15
http://colemanreport.com/mug-shot-monday-bank-of-oswego-indictments/

Geoff Walsh Guilty — 7/24/15
http://colemanreport.com/fraud-friday-bank-of-oswegos-first-guilty-plea/

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