Posts Tagged ‘Fraud Friday’
Fraud Friday — Jury Convicts Two Nova Bank Execs of TARP Fraud, Lying to the Feds
May 6, 2016 By Bob Coleman Editor, Fraud Friday Pennsylvania based-Nova bank’s top two execs are guilty of conspiracy, TARP fraud and two counts of making false statements. Former CEO Brian Hartline, 51, was found not guilty of bank fraud while past Chairman Barry Bekkedam, 48, was found not guilty of bank and wire fraud…
Read MoreFraud Friday — The $3.9 Million Apartment Construction Loan Secured by, Oops, Where are the Apartments?
April 22, 2016 By Bob Coleman Editor, Fraud Friday Fraud Friday — The $3.9 Million Apartment Construction Loan Secured by, Oops, Where are the Apartments? I guess my editorial philosophy is to lean toward the community bankers and borrowers who are indicted because of losses to the Treasury’s TARP program or to the FDIC. And…
Read MoreFraud Friday — Appeal Court Overturns Community Banker’s Fraud Conviction
April 15, 2016 By Bob Coleman Editor, Fraud Friday Fraud Friday — Appeal Court Overturns Community Banker’s Fraud Conviction David Weimert’s 18-month sentence for bank fraud has been nullified on appeal and he walked out of a federal prison this week. Weimert was president of Wisconsin-based Anchor Bank’s real estate subsidiary. During the height of…
Read MoreFraud Friday — Former TierOne Chief Credit Officer and COO Sent to Jail
April 8, 2016 By Bob Coleman Editor, Fraud Friday Fraud Friday — Former TierOne Chief Credit Officer and COO Sent to Jail 21 months for James Laphen and 34 months for Don Langford The two were sentenced after former the founder and CEO Gil Lundstrom got his 11 year sentence last month. Senior bank officials…
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 MoreFraud Friday — SBA Department Manager Guilty in La Jolla Bank Fraud
October 2, 2015 By Bob Coleman Editor, Fraud Friday Fraud Friday — SBA Department Manager Guilty in La Jolla Bank Fraud The former SBA Department Manager of San Diego-based La Jolla Bank is going to jail for SBA loan fraud. Amalia Martinez pled guilty last week for accepting thousands of dollars in bribes and kickbacks…
Read MoreFraud Friday — Northern California Wildfires a Predictor of Future Fraudulent Loan Activity
September 25, 2015 By Bob Coleman Editor, Fraud Friday Fraud Friday — Northern California Wildfires a Predictor of Future Fraudulent Loan Activity Says the First American Loan Application Defect Index. Now, the study tracks residential mortgage application fraud “defects” on a nationwide, individual market basis. But comparing the stats for predicting fraud in commercial real…
Read MoreFraud Friday — Former Bank President Pleads Guilty to $3.5 Million Fraud
September 18, 2015 By Bob Coleman Editor, Fraud Friday Fraud Friday — Former Bank President Pleads Guilty to $3.5 Million Fraud I gave my five common themes of lender employee fraud in a speech to America’s Small Business Development Company annual conference in San Francisco last week. Long Time Employee Outside Investments make them appear…
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