Fraud Friday – FDIC Sues Former Bank of Commonwealth Officials

September 26, 2014 By Bob Coleman Editor, Coleman Report On the eve of the three year deadline to file, the FDIC filed an $11 million lawsuit against former Bank of Commonwealth executives for negligent banking practices. Says the Virginian-Pilot; “The FDIC has lost more than $300 million as a result of the bank’s failure. “The…

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Guilty Plea for SoCal businessman in $6 million SBA Loan Fraud

July 25, 2014 By Bob Coleman Editor, Coleman Report “Attempts to use SBA’s 7(a) loan program as a personal checking account will be met with the full force of the U.S. justice system,” says SBA Inspector General Peggy E. Gustafson. “Together with our law enforcement partners, the OIG will continue to ensure those who commit…

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Mug Shot Monday – Feds Use Bankers Email Against Him

April 7, 2014 by Bob Coleman Editor, Coleman Report Friday, I wrote about an Arkansas community banker who was indicted by a grand jury for covering up a failed $1.5 million loan to a Florida businessman. His indictment was posted online today and more damning facts have emerged. Allegedly. I have covered numerous instances where…

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