Fraud Friday – It’s The Lie That Gets The Time

It’s the lie, not necessarily the act, that gets one nailed for bank fraud.

That’s what happened to the former Chairman of Louisiana’s Central Progressive Bank, Richard Blossman Jr.

He lied to the feds about his role in buying a repossessed yacht from the bank for $26,000, then turning around and selling it for $130,000.

Oh, and that the fact that he tried to talk his way out of why he gave each of his eleven bank directors a $5,000 bonus, only to have the money to be funneled to Governor Bobby Jindal’s campaign, added more charges to

Mr. Blossman, or “Dickie” as he likes to be called will soon be serving two years and nine months in a federal work camp.

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