March 2016

DOJ Prosecutes Thrift Bank With Defrauding Shareholders

United States - Nebraska

The U.S. Department of Justice prosecuted the CEO, COO and chief credit officer of a $3 billion publicly traded thrift bank, which collapsed in the fallout of the Great Recession. Henry Van Dyck led the prosecution in the U.S. District Court for the District of Nebraska. The bank’s CEO was charged with defrauding shareholders and lying to regulators through a scheme that hid approximately $100 million in loan losses in the bank’s commercial loan and real estate portfolio. The former COO and chief credit officer pled guilty in the case. The CEO was convicted following a two-week jury trial.

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