November 17, 2014 By Bob Coleman Editor, Coleman Report That he used to buy real estate from Bank of America in short sales. “(Michael) Davis stands charged in a purported scheme that caused Premier Community Bank, TARP recipient Bank of America, and Beach Community Bank to suffer losses,” says Christy Romero, SIGTARP. “SIGTARP and our…

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November 10, 2014 By Bob Coleman Editor, Coleman Report A week after Northern California United Commercial Bank’s Manager of Credit Risk and Portfolio Management pled guilty, the feds indicted the bank’s former CFO. As we reported on October 27th, Thomas Yu pled guilty of failing to properly downgrade poor performing loans. This enabled the bank…

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November 3, 2014 By Bob Coleman Editor, Coleman Report Guilty on seven counts of SBA loan fraud says an Arkansas jury for the former CEO of HomeBank of Arkansas last month. Reports Arkansas Business’ Gwen Mortiz; The charges all related to $526,100 in loans he got from the SBA to replace storm losses under the…

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October 27, 2014 By Bob Coleman Editor, Coleman Report Former Northern California United Commercial Bank’s Manager of Credit Risk and Portfolio Management has pleaded guilty to charges of conspiracy to commit false bank entries and reports. Thomas Yu is guilty of failing to properly downgrade poor performing loans. This enabled the bank to artificially inflate…

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September 29, 2014 By Bob Coleman Editor, Coleman Report Over 20 small businesses were ripped off by a Connecticut loan broker alleges the feds. Todays perp, who already has spent 41 months in jail for bank fraud and money laundering, originally used the address of an abandoned building in Dayton Ohio to transact his business.…

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September 15, 2014 By Bob Coleman Editor, Coleman Report Or, use your neighbor’s house as collateral for a c-store loan in Stover, Missouri. So sayeth the feds against Carol Noble who used the house next door for a $185,000 loan by Central Trust Bank in Jefferson City. Carol transposed the address in her loan application.…

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