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SAN JUAN, Puerto Rico (AP) — An investigation into a private investment firm in Jamaica where $12.7 million belonging to The post Jamaica under scrutiny for fraud scandal that hit Usain Bolt ...
The fraud was uncovered when Williams tried to hide the bad loans by rolling the interest and penalties into the principal for a new loan. One of Williams' subordinates was alarmed enough to alert bank officials. Community State Bank fired Williams and sued Megaladon for nonpayment. In August 2006, Community State Bank won $535,000 in damages.
Dextra drew a cheque for $2,999,000 from its bankers to lend to the Bank of Jamaica. Its agents told Dextra the money was for a loan. The Bank of Jamaica was told the money was for foreign currency purchased by its agents. They gave the money to the agents, but the agents were fraudsters. Dextra wanted restitution.
After 3 years, both banks were put into bankruptcy, a new nationalized bank was created and the assets of the two bankrupt banks and the bank accounts of local account holders were transferred to the new bank and the local depositors were made whole by stealing about $180 million of money belonging foreign depositors, who lost their entire savings.
In addition to being the second bank to fail in 2024, the failure of The First National Bank of Lindsay marks the seventh time a federally-insured bank has failed going back to 2021.
In March, she sued the bank, claiming that she was fired for refusing to participate in the sale of 23,000 credit card accounts Chase had packaged for sale. Almonte says 5,000 of the accounts ...
The Royal Commission heard that ANZ had failed to accurately verify the living expenses of home loan customers referred to the bank by mortgage brokers, believing that this was the responsibility of the brokers, in spite of a conflict of interest in doing so; [70]: 465–469 [71] and that, due to processing issues, it had charged nearly 500,000 ...
May 25 (Reuters) - The former head of digital banking fraud and security at state-backed Lloyds Banking Group has been charged with defrauding her employer by submitting close to 2.5 million ...