Coleman Report
Fraud Friday — Community Bank CEO Indicted for Renewing Delinquent Loans
February 13, 2015 By Bob Coleman Editor, Fraud Friday A former Tifton Banking Company President & CEO was indicted yesterday on seven counts of bank fraud. Gary Hall, Jr. was allegedly engaged in a long running scheme to mislead the bank and its loan committee about loans TBC made to local individuals and businesses. As…
Read MoreColeman Thursday’s Movers and Shakers
February 12, 2015 By Bob Coleman Editor, Thursday’s Movers and Shakers Vinny Muratore Named Board Director and Executive Vice President of Capital Growth Solutions Says CEO Gary Griffin of the Tennessee-based non-bank lender, “Adding Vinny is probably the most important step CGS has taken since its inception. Vinny says, “This is the perfect marriage. My…
Read MoreMain Street Wednesday — Canada Expands its Small Business Financing Program
February 11, 2015 By Bob Coleman Editor, Main Street Wednesday I recently wrote about the U.K’s scheme to increase access to capital for small business, now Canada is getting on the bandwagon. Prime Minister Stephen Harper announces, “Our Government is committed to creating jobs and opportunities for Canadians. Small businesses are the lifeblood of the…
Read MoreSBA Hot Topic Tuesday — Small Business Capital’s SBLC License to Sell for $700,000
February 10, 2015 By Bob Coleman Editor, SBA Hot Topic Tuesday Says the Receiver of Small Business Capital and its associated funds. All were seized in June 2012 by the SEC for a ponzi-type investment scheme. Since then, the Receiver has been liquidating the assets of the funds and company. In January, the SBA 504…
Read MoreMug Shot Monday — Borrowers Who Don’t Report all Income is Just a Character Issue, Right?
February 9, 2015 By Bob Coleman Editor, Mug Shot Monday Back in the day, when I was in grad school working on my MBA, my accounting professor said, “Just remember, overreporting expenses can be a gray area, but undereporting income is a crime.” Not declaring all cash sales. Ar we simply dealing with character issues?…
Read MoreFraud Friday — SIGTARP’s Scorecard — 222 Indicted on Fraud Charges to Date
February 6, 2015 By Bob Coleman Editor, Coleman Report When Congress bailed out the banking system with its Troubled Asset Relief Program, it allocated funds for a Special Inspector General. Six years later, the investigation continues to snare primarily community bankers and their borrowers on multiple counts of fraud charges. As of December 31, 2014,…
Read MoreColeman Thursday’s Movers and Shakers
February 5, 2015 By Bob Coleman Editor, Thursday’s Movers and Shakers Cara Rudy Rejoins Capital Access Group as Vice President “I am very pleased that Cara has chosen to return to the Capital Access Group team,” says Jacklyn Jordan, President/CEO. “Cara has the unique combination of skills and characteristics that are necessary to be successful…
Read MoreMain Street Wednesday: A New SBA 504 Lender on the Block
February 4, 2015 By Bob Coleman Editor, Main Street Wednesday Bob Coleman: Chris Hurn, Fountainhead Commercial Capital, congratulations, what’s this all about? Chris Hurn: Thanks Bob, thanks for having me. Well I have been in the SBA space for about 17 years now so I decided to launch my next venture. It has been a…
Read MoreSBA Hot Topic Tuesday: Required use of E-Tran by all 7(a) Lenders for Certain Unilateral Servicing and Liquidation Actions
February 3, 2015 By Bob Coleman Editor, SBA Hot Topic Tuesday SBA has issued a new procedural notice effective February 1, 2015 requiring the use of E-Tran by all 7(a) lenders for certain unilateral servicing and liquidation actions. This Procedural Notice announces that SBA will soon begin requiring the use of E-Tran by all 7(a)…
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…
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