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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.
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 ...
Workers Trust and Merchant Bank Ltd v Dojap Investments Ltd [1993] UKPC 7 is a contract law case of the Judicial Committee of the Privy Council, on appeal from the Court of Appeal of Jamaica. The case concerns the dividing line between a penal requirement for a deposit and liquidated damages.
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.
The credit crisis came within inches of shuttering several of the nation's largest banks and caused the fire sales of others. Firms could not fire people fast enough to bring down costs. Very few ...
A federal grand jury in Des Moines indicted 18 people with bank fraud and money laundering charges. Part of a nationwide scheme, defendants from Arizona, Iowa, Illinois and Indiana allegedly drew ...
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.
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 ...