Posts Tagged ‘Mug Shot Monday’
Mug Shot Monday — Gas Station Owner Arrested on $2.5 Million Bank Fraud
February 2, 2015 By Bob Coleman Editor, Mug Shot Monday The judge’s order to hold Shaukat Sindhu without bail says it all… “At the preliminary hearing, the court accepted the testimony of Anthony Sano, an FBI agent specializing in the investigation of “white collar” crimes, including bank and securities fraud. Agent Sano testified that Defendant…
Read MoreMug Shot Monday — The Top Five Perps of 2014
December 29, 2014 By Bob Coleman Editor, Coleman Report Afternoon Brief The sad truth is I don’t want for material in filing the Mug Shot Monday and Fraud Friday reports. Too many of our brethren crossed the line during the Great Recession, and they are now paying the price for new digs at our expense.…
Read MoreMug Shot Monday — Chief Credit Officer Gets 4 Years for $900,000 in Bribes
December 22, 2014 By Bob Coleman Editor, Coleman Report Afternoon Brief “After the financial crisis we experienced, no one can legitimately question the importance of pursuing people like Mr. Malone, who commit bank fraud,” says United States Attorney Michael J. Moore. In addition to four years in prison, Larry was ordered to pay $25 million…
Read MoreMug Shot Monday — Small Business Loan Broker Upfront Fee Scams Still Work?
December 15, 2014 By Bob Coleman Editor, Coleman Report Afternoon Brief Sadly, yes. Says our favorite Special Inspector General for TARP, Christy Romero. Leigh Fiske and Michael Ramdat owned Corporate Funding Solutions and solicited clients over the Internet. When the FBI knocked on the door, the pair quickly folded their cards saying they never intended…
Read MoreMug Shot Monday — Fallout From Nik Patel Fraud Grows
December 1, 2014 By Bob Coleman Editor, Coleman Report I earlier reported an investment fund for Illinois cities has been hit to the tune of $50 million, with many cities adversely affected by the alleged $179 million loan USDA fraud by First Farmer’s Nik Patel. A number of banks have an exposure also. Harvard Savings…
Read MoreMug Shot Monday – Community Bank CEO Blames Personal Financial Woes for Fraud Plea
November 24, 2014 By Bob Coleman Editor, Coleman Report Reports Maureen Milford, The News Journal, “The once-respected Wilmington Trust Co. said his criminal acts resulted from a reckless attempt to “find a way out” of “desperate financial circumstances.” “Faced with mounting professional and personal issues, I made decisions that have, and will, impact me for…
Read MoreMug Shot Monday – Bank Prez Approved Loans to His Own Company
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…
Read MoreMug Shot Monday – Community Bank CFO Indicted for False Loan Loss Reserves
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…
Read MoreMug Shot Monday – Former Arkansas Bank Prez, Guilty of SBA Loan Fraud
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…
Read MoreMug Shot Monday – Sr Vice President Guilty for Calculation of Loan Loss Reserves
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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