FORMER BANK PRESIDENT SENTENCED TO TWO YEARS IN FEDERAL PRISON FOR BANK FRAUD AND MONEY LAUNDERING #GATCA

According to facts revealed during the sentencing hearing, Ladio had been involved in a decade-long “loan-swap” arrangement with former Wilmington Trust market manager Brian Bailey, in which the two men provided more than 20 loans to each other totaling more than $1.5 million. In June 2010, Wilmington Trust called Ladio’s loans and required him to enter into a Global Restructuring Agreement. Ladio engaged in the nominee loan scheme in substantial part to make interest and principal payments under the agreement.

via International Financial Law Prof Blog http://bit.ly/125u6Hd