2011-05-26bankimplode.com

Here at BankImplode we are running an "enhanced" pickup of a DealFlow piece reported by Teri Buhl in the May 24th, 2011 Distressed Debt Report. We are including a copy of the affadavit of Fred DeCaro Jr., the former Chairman of the bank and its principal founder (mentioned in the original DealFlow story), in which he attests that "a bank employee" had been forging borrower, developer and investor Ruth Jones' signature on various documents, and had embezzled monies related to Jones' development projects.


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