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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