The former president of New York's small Park Avenue Bank was arrested on fraud charges, one of the first such cases involving a TARP recipient. The bank was shut Friday.
Charles J. Antonucci Sr., the former president and chief executive of the Park Avenue Bank of New York, made false statements to regulators in an effort to obtain about $11 million from the U.S. government's Troubled Asset Relief Program, prosecutors said. He is the first person to be charged criminally with attempting to defraud TARP, the bank bailout program passed as the nation teetered on the verge of an economic meltdown in 2008, prosecutors said.
No comments:
Post a Comment