Posts Tagged ‘Bank Fraud’
Fraud 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 – Ex Credit Union CEO Pleads Guilty to Fraud
May 3, 2019 By Dominic J Bartolone Contributing Editor, Fraud Friday Fraud Friday – Ex Credit Union CEO Pleads Guilty to Fraud The former CEO of a Minnesota credit union who was accused of stealing more than $10 million, pleaded guilty to stealing at least $2.5 million after a five-year investigation by the FBI. Margurite…
Read MoreFraud Friday — “They Got Us,” Feds Allege Kerri Agee Says in Email to Employees to Support $10 Million Loan Fraud Indictments
March 29, 2019 By Bob Coleman Editor, Fraud Friday Fraud Friday — “They Got Us,” Feds Allege Kerri Agee Says in Email to Employees to Support $10 Million Loan Fraud Indictments A key takeaway in the banc-serv indictments is never assume anything in your email is confidential. Always assume the party you are criticizing, or…
Read MoreFraud Friday — Credit Union VP Busted for Fraud
March 22, 2019 By Dominic J Bartolone Contributing Editor, Fraud Friday Fraud Friday — Credit Union VP Busted for 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 from…
Read MoreFraud Friday — Missouri Rancher Indicted in Million Dollar Ponzi Scheme
March 15, 2019 By Dominic J Bartolone Contributing Editor, Fraud Friday Fraud Friday — Missouri Rancher Indicted in Million Dollar Ponzi Scheme A self-proclaimed cattle buyer from Clinton, Missouri has been sentenced to eight years in federal prison and ordered to pay more than $3.2 million in restitution for his part in hatching a cattle-buying…
Read MoreFraud Friday — Bank Officer Sentenced for Embezzlement
March 1, 2019 By Dominic J Bartolone Contributing Editor, Fraud Friday Fraud Friday — Bank Officer Sentenced for Embezzlement A former Mississippi bank officer has been sentenced to two years in federal prison for embezzling funds from a bank where he worked after the bank received $34 million in government assistance from the United States…
Read MoreFraud Friday – $100M Florida Fraud Leads to Bank Failure
February 15, 2019 By Dominic Bartolone Contributing Editor, Fraud Friday Fraud Friday – $100M Florida Fraud Leads to Bank Failure An eccentric businessman who hobnobbed with Miami’s elite is headed to federal prison after being found guilty of fraud on a financial institution. Jack Kachkar, 55, former CEO of Inyx, a specialty pharmaceutical company in…
Read MoreFraud Friday — Borrower Continues FInancial Fraud while on Bond, Jailed
July 20, 2018 By Bob Coleman Editor, Fraud Friday Fraud Friday — Borrower Continues FInancial Fraud while on Bond, Jailed Life got harder for Wisconsin businessman Ron Van Den Heuvel after a judge ordered him jailed following allegations that he continued to commit crimes while free on bond. Van Den Heuvel was convicted and sentenced…
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