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Texas Businessman

TX 2010 Community Banks / Credit Unions
DOJ Conspiracy
Penalty
$100 million

Outcome

Texas Businessman Pleads Guilty in Virginia to Role in $100 Million Fraud Scheme Involving Life Settlements

Details

Texas Businessman — DOJ Enforcement (2010)

DOJ took enforcement action against Texas Businessman in TX in 2010 involving conspiracy violations in the Community Banks / Credit Unions sector.

Penalty: $100 million

Violation types: Conspiracy
Entity type: Financial Institution
Penalty type: Criminal
Location: TX

Source: DOJ Press Release — Texas Businessman Pleads Guilty in Virginia to Role in $100 Million Fraud Scheme Involving Life Settlements

How Crucible Prevents This

Crucible's compliance monitoring for Community Banks / Credit Unions would have detected the patterns underlying this enforcement action.

Source: DOJ Press Release — Texas Businessman Pleads Guilty in Virginia to Role in $100 Million Fraud Scheme Involving Life Settlements

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