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04.09.2015 - 22:57 [ AllGov ]

Top Bank Executive Sentenced to 8 Years in Prison for Fraud in TARP Bank Failure Case

Ebrahim Shabudin, the ex-chief credit officer for United Commercial Bank, was convicted of fraud for falsifying records to hide major loan losses from auditors and investors after the federal government stepped in to help the failing bank under its Troubled Asset Relief Program (TARP). He was sentenced to eight years.

Nachrichten Kategorie: International.

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