Virginia

MD 2013 Community Banks / Credit Unions

DOJ Conspiracy

Penalty

$100 million

Outcome

Virginia Settlement Attorney Sentenced To Prison In Conspiracy To Fraudulently Obtain Over $100 Million In Sba-backed Loans

Details

Virginia — DOJ Enforcement (2013)

DOJ took enforcement action against Virginia in MD in 2013 involving conspiracy violations in the Community Banks / Credit Unions sector.

Penalty: $100 million

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

Source: DOJ Press Release — Virginia Settlement Attorney Sentenced To Prison In Conspiracy To Fraudulently Obtain Over $100 Million In Sba-backed Loans

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 — Virginia Settlement Attorney Sentenced To Prison In Conspiracy To Fraudulently Obtain Over $100 Million In Sba-backed Loans

Don't let this happen to your organization. See how Crucible works.

See How Crucible Works