Former Coast Bank VP sentenced to 18 months in prison
July 7, 2011
Total Loss:
$1.2 Million
Philip William Coon, former executive vice president of mortgage lending at the now-defunct Coast Bank, was sentenced to 18 months in federal prison.
Coon pleaded guilty to conspiracy to commit wire fraud and money laundering as part of a mortgage fraud scheme operating from 2004 to 2007.
Source:
BizJournals
Posted in:
Money Laundering
ACH and Wire Fraud