Posts Tagged ‘SBA Loan 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 — CBS Credit Union Manager Indicted for Embezzlement
April 5, 2019 By Dominic J Bartolone Contributing Editor, Fraud Friday Fraud Friday — CBS Credit Union Manager Indicted for Embezzlement After looting more than $40 million over 20 years, the former manager of the CBS Employees Federal Credit Union has been arrested and charged with embezzlement. Edward Rostohar faces felony counts of bank fraud…
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 — 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 — 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…
Read MoreFraud Friday — Two Borrowers Jailed for Loan Fraud, Lying to SBA
April 20, 2018 Fraud Friday — Two Borrowers Jailed for Loan Fraud, Lying to SBA By Bob Coleman Editor, Fraud Friday On Tuesday, Harold Halman, II, 58 got 36 months. Alexander Schaap, 62, got 30 months. Craighton Boates, 44, received five years’ probation. The three were principals of Global Medical Equipment of Arizona. They defrauded…
Read MoreFraud Friday — SBA Fraud Charges Dismissed Against Arkansas Community Banker John Stacks
August 5, 2016 By Bob Coleman Editor, Fraud Friday Fraud Friday — SBA Fraud Charges Dismissed Against ex-Arkansas Community Bank CEO The case is over for John Stacks who became a poster child with conservative groups for overzealous federal government led “gestapo” SWAT raids and wrongful prosecutions. His crime said the feds? Submitting false financial…
Read MoreFraud Friday — The Boys and their Toys, Community Banker CEO Style
July 22, 2016 Fraud Friday — The Boys and their Toys, Community Banker CEO Style By Bob Coleman Editor, Fraud Friday It’s a nice list of toys. Corvettes, SUVs, some really nice RV’s, a Kibbi trailer and a “Classic” trailer — hope he had at least some sense and got an Airstream. Former Wisconsin-based Farmers…
Read MoreFraud Friday — Loan Broker Pleads Guilty to Bribing SBA Department Manager
May 20, 2016 By Bob Coleman Editor, Fraud Friday Jocelyn J. Brown, a loan broker for the now-defunct San Diego-based La Jolla Bank, has pled guilty to making false statements in relation to an investigation into bribes paid to the bank’s Vice President and SBA lending department manager Amalia Martinez. As part of her guilty…
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…
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