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Online lender Kabbage was one of the biggest lenders in the first year of the Paycheck Protection Program, processing more than $7 billion in loans. Facing federal PPP fraud investigations, online ...
Now, thanks to an obscure filing in one of South Florida’s many PPP fraud cases, it has been revealed that one of the biggest lenders in the program’s first year might soon be facing consequences.
A Kentucky man who fraudulently arranged for $4.4 million in loans has been sentenced to nine years and two months in prison. Wavy Curtis Shain, 42, of Nelson County pleaded guilty to fraud and ...
This broker goes to another bank and tries to sell the securities and vice versa for buying. Since Mehta was a renowned broker, he issued cheques in his name instead of the bank. When the bank wanted money for the securities, he approached another bank and repeated the same process, and invested the bank money in the stock market. [10]
[51] 1984 saw the largest commercial bank failure to date, that of Continental Illinois, which was infamously branded "too big to fail". [52] The bank failed amid a rise in foreign non-performing loans (mostly in Latin America) and an electronic bank run. The FDIC stepped in to prevent the failure of almost 2,300 smaller banks which had their ...
The ICICI-Videocon loan scam is about a criminal conspiracy by Chanda Kochhar as Managing Director of ICICI Bank who abused her position by sanctioning a ₹ 3,250 crore (US$696.34 million) loan to Venugopal Dhoot's Videocon International Electronics Limited (VIEL) between June 2009 and October 2011 to cheat the bank in lieu of illegal gratification and undue benefit received in NuPower ...
The feds have focused their COVID-19 loan fraud probe on BSO deputies and others in the agency. 17 Broward sheriff’s employees face charges of fleecing federal pandemic loan program Skip to main ...
The Consumer Financial Protection Bureau (CFPB), together with attorneys general and state banking regulators in 49 states, and the District of Columbia obtained a Consent Judgment requiring Ocwen Financial Corporation—who at the time, was the largest nonbank mortgage loan servicer in the country—and its subsidiary, Ocwen Loan Servicing, to ...