NC Bank Agrees to Pay 400K in Restitution
May 3, 2011
Total Loss:
$400,000
A North Carolina bank has agreed to pay $400,000 in restitution to victims of a Ponzi scheme that operated through the bank, and improve anti-money laundering programs, the U.S. Attorney's office said Wednesday.
It's part of Asheboro-based CommunityONE Bank's deferred prosecution agreement with the U.S. Department of Justice. The bank, which is planning to merge with the Bank of Granite, has 45 branches in the state.
Source:
Business Week
Posted in:
Money Laundering
Collusive Networks