Federal case says bank employees played key roles in Charlotte-area fraud schemes

Bribed bank employees were key to the fraudulent mortgages taken out by members of cell No. 2, prosecutors allege in the indictment filed last week. Bribes were not paid to approve any loans. Rather, they were paid to provide false information or verifications for loan applications, usually to banks the accused didn't work for, prosecutors allege. That part of the operation was led by Landrick McClain, a Maryland resident and owner and chief executive of Credit Risk Re Ltd., a financial-services firm based in Washington, the indictment says. Vic Henson, who was branch manager for Bank of America's Steele Creek branch, was paid $38,000 in the fall of 2007 for writing a bogus $5 million letter of credit for an unidentified company involved in the scheme, the indictment says. Read more: Federal case says bank employees played key roles in Charlotte-area fraud schemes - Charlotte Business Journal Posted in: Internal Fraud