June 15, 2015 By Bob Coleman Editor, Mug Shot Monday How else to describe the relationship between a banker and his borrowers that resulted in five guilty pleas for bank fraud? It appears the banker didn’t benefit financially as he crossed the line trying to bail out his borrowers by approving loans to straw borrowers…

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June 8, 2015 By Bob Coleman Editor, Mug Shot Monday For $347,000. Michael Bernick is a contractor and former director of Metropolitan Savings Bank in Lawrenceville, PA. After the community bank failed, costing the FDIC $9.4 million, prosecutors began looking for the usual suspects. They discovered Vice President and Managing Officer Donna Shebetich was a…

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June 1, 2015 By Bob Coleman Editor, Mug Shot Monday “I used my money first.” “From the debt side, we’re finding it very easily. We’re able to find a debt financing piece of these purchases, and we’ll be looking for an equity partner soon.” “‘For the most part, it’s been smooth sailing.” All are quotes…

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May 11, 2015 By Bob Coleman Editor, Mug Shot Monday Add Poppi Metaxas to the list of community bankers jailed after her bank received TARP funds. She faces five years in prison for her guilty plea of bank fraud for her role in defrauding the bank of $1.8 million. ‘While Gateway Bank was applying for…

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May 4, 2015 By Bob Coleman Editor, Mug Shot Monday After being convicted in January of bank fraud, Rusty Beamon learned today he will spend 3 ½ years in jail. Rusty Beamon was a vice president at Appalachian Community Bank in Georgia and was in charge of the bank’s foreclosed real estate assets. In 2009,…

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