Archives For TARP

Xue Heu, 38, Modesto, California, was sentenced¬†to five years and three months in prison, to be followed by three years of supervised release and ordered to pay $1,166,366 in restitution, for investment fraud schemes in Fresno, California and Texas. Continue Reading…

Thomas Yu, 51, San Ramon, California, was convicted of Conspiracy to Commit False Bank Entries, Reports, and Transactions by pleading guilty to Count Six of the pending Superseding Indictment in this case. By failing to properly report poor performing loans, Yu admitted that he helped the bank avoid required loan loss reserves that enabled the bank to artificially inflate its reported earnings to the public.

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William Glasgow, 72, Town and Country, Missouri, James Crews, 56, Wentzville, Missouri, and Michael Hilbert, 62, St. Charles, Missouri, surrendered on January 10, 2014, to authorities on two separate indictments alleging bank fraud against TARP recipient Excel Bank.

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