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Home | Tag Archives: TARP

Tag Archives: TARP

Colorado Men Sentenced for Role in TARP Fraud

white-collar-crime

Two Colorado men were sentenced to federal prison time and ordered to pay more than $1 million each in restitution for their roles in scheme to defraud a Colorado bank that was a recipient of Troubled Asset Relief Program (TARP) funds, the Special Inspector General for TARP (SIGTARP), Christy Romero, and U.S. Attorney for the District of Colorado John Walsh announced recently.

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Kansas Man Sentenced for HAMP Fraud

fraud-scam

A Mexican national living in Wichita, Kansas, was sentenced for fraudulently obtaining a mortgage modification loan through the Home Affordable Modification Program (HAMP), which is funded by the government's Troubled Asset Relief Program (TARP), Special Inspector General for TARP (SIGTARP) Christy Romero announced recently.

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Father, Son Indicted on TARP Fraud Charges

fraud-two

Two Kansas men were indicted on multiple charges of defrauding a bank that was receiving government assistance out of more than $877,000, the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) Christy Romero and U.S. Attorney for the District of Kansas Barry Grissom announced recently.

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SIGTARP Requests More Transparency from Treasury

Treasury

The watchdog that oversees the money given under the Troubled Asset Relief Program (TARP) has called for more transparency from the U.S. Treasury Department. In a letter to Treasury Secretary Jack Lew dated September 2, the Special Inspector General for the Troubled Asset Recovery Program (SIGTARP), Christy Romero, stated that a SIGTARP audit found evidence that the Treasury Department modified "some of the data reported by the financial institutions" in a report on how TARP funds were spent.

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Sr. Bank Executive Pleads Guilty to Conspiracy

The office of the Special Inspector General for TARP (SIGTARP) announced another victory in its fight to detect and punish fraud against banks that received funds as part of the Troubled Asset Relief Program. Michael W. Yancey pleaded guilty on Wednesday to one count of conspiracy to make false statements on a loan application. Yancey was a former senior vice president and commercial loan officer at TARP recipient Farmers Bank & Trust (Farmers Bank) in Great Bend, Kansas.

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California Man Sentenced to 51 Months for Fraud

The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) announced that Steven Pitchersky of Rancho Mirage, California was sentenced to 51 months in federal prison for a scheme to defraud GMAC Inc., since rebranded as Ally. Through his fraudulent actions, the company incurred losses of approximately $5.3 million.

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