Thursday, May 31, 2012

Former Bank Executive In Louisiana Charged With Bank Fraud For Embezzling $200K To Purchase A Yacht

Richard Blossman Jr., 52, of Covington, Louisiana has been charged with bank fraud in connection with the misappropriation of $200,000 from Central Progressive Bank where he had served as CEO.  The fraud was perpetrated reportedly to allow Blossman to purchase a yacht.  Meanwhile the bank failed and was taken over by the FDIC and sold to First NBC in December 2011.

Read the story here.

Hat tip: FraudTalk reader Joe.

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