Posts Tagged ‘Loan Fraud’
Fraud Friday — Small Business Loan Brokers Indicted for $2 Million Fraud
June 21, 2019 By Dominic J Bartolone Contributing Editor, Fraud Friday Fraud Friday — Small Business Loan Brokers Indicted for $2 Million Fraud A New York man along with seven others, have been indicted and charged with running a fraud ring that bilked 35 small-business owners out of more than $2 million in advance fees…
Read MoreFraud Friday — SBA Loan Broker Jailed for 9 Years in $100 Million 7(a) Loan Fraud
June 14, 2019 By Bob Coleman Editor, Fraud Friday Fraud Friday — SBA Loan Broker Jailed for 9 Years in $100 Million 7(a) Loan Fraud “Our financial system is based on trust,” says U.S. Attorney Robert K. Hur. “Loren Park and his co-conspirators lied during every aspect of the loan process, cheating taxpayers and lenders,…
Read MoreFraud Friday — Noah Bank CEO Arrested for SBA Loan Fraud
May 31, 2019 By Bob Coleman Editor, Fraud Friday Fraud Friday — Noah Bank CEO Arrested for SBA Loan Fraud U.S. Attorney Geoffrey S. Berman says this past Wednesday, “Edward Shin, the CEO of a Pennsylvania bank, allegedly exploited his position as a bank officer to illegally issue Small Business Administration loans to entities in…
Read MoreFraud Friday – Credit Union VP Pleads Guilty to Fraud
May 17, 2019 By Dominic J Bartolone Contributing Editor, Fraud Friday Fraud Friday – Credit Union VP Pleads Guilty to Fraud A former credit union vice president from Vancleave, Mississippi, pled guilty to theft from a credit union in U.S. District Court in Gulfport. Merideth Christina McMillan, 46, was accused of stealing more than $350,000…
Read MoreFraud Friday – Billings Man Indicted for Defrauding Canadian Bank
May 10, 2019 By Dominic J Bartolone Contributing Editor, Fraud Friday Fraud Friday – Billings Man Indicted for Defrauding Canadian Bank A Montana businessman was indicted for bank fraud for allegedly inducing a Canadian Bank to loan him more than $40 million based on phony loan documents. Todd Capser, 47, of Billings, was arrested May…
Read MoreFraud Friday — Ex-Mayor, Bank SVP Sentenced to 13 Years for $6 Million Loan Fraud
March 23, 2018 By Bob Coleman Editor, Fraud Friday Fraud Friday — Ex-Mayor, Bank SVP Sentenced to 13 Years for $6 Million Loan Fraud A photoshop fake loan documents expert who was an ex-mayor, bank executive and church leader of Enid, Oklahoma — 65 year-old Ernie Currier — will be spending his golden retirement years…
Read MoreFraud Friday — Ex-Community Bank CEO Gets 11 Years in Jail
March 25, 2016 By Bob Coleman Editor, Fraud Friday Fraud Friday — Ex-Community Bank CEO Gets 11 Years in Jail The 74-year old founder and former chief executive officer of Nebraska’s largest bank failure learned his fate this week — 11 years in jail for bank fraud. Prosecutors said Lundstrom concealed delinquent and uncollectible loans…
Read MoreFraud Friday — Community Bank CEO Sentenced to Two Years for Understating Loan Losses
March 11, 2016 By Bob Coleman Editor, Fraud Friday Fraud Friday — Community Bank CEO Sentenced to Two Years for Understating Loan Losses Laurie Mayfield signed off of a Call Report that “hid” $830,000 in loan losses when her bank was sold to Texas-based Vantage Bank. She received two years in prison, three years probation…
Read MoreFraud Friday — Georgia Community Bank ex-CEO gets 7 years in Jail for Fraud
March 4, 2016 By Bob Coleman Editor, Fraud Friday Fraud Friday — Georgia Community Bank ex-CEO gets 7 years in Jail for Fraud “Today, another TARP banker was sentenced to jail for hiding a bank’s past due loans during the crisis to make the bank appear healthy,” sys Christy Goldsmith Romero, Special Inspector General for…
Read MoreMug Shot Monday — Gas Station Owner Arrested on $2.5 Million Bank Fraud
February 2, 2015 By Bob Coleman Editor, Mug Shot Monday The judge’s order to hold Shaukat Sindhu without bail says it all… “At the preliminary hearing, the court accepted the testimony of Anthony Sano, an FBI agent specializing in the investigation of “white collar” crimes, including bank and securities fraud. Agent Sano testified that Defendant…
Read More