Comment on Jury finds ex-San Francisco bank executive guilty of fraud

Jury finds ex-San Francisco bank executive guilty of fraud

U.S. Attorney Melinda Haag said Thursday a federal jury in Oakland found 66-year-old Ebrahim Shabudin guilty of conspiring with others within the bank to falsify key bank records as part of a scheme to conceal millions of dollars in losses and falsely inflate the bank's financial statements. United Commercial Bank received $298 million from the Troubled Asset Relief Program, or TARP, in 2008 during the height of the nation's financial crisis.

 

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