trending Market Intelligence /marketintelligence/en/news-insights/trending/pFnSgt4bogNT9LS4tozcOg2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Former execs of failed Fla. bank charged with fraud

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Former execs of failed Fla. bank charged with fraud

Former executives, including former President Anthony Atkins, of Destin, Fla.-based GulfSouth Private Bank were charged with a seven-count indictment charging them with a number of crimes, including conspiracy to commit bank fraud.

Along with Atkins, Samuel Cobb, former vice president of the bank, was charged with making false statements to a federally insured financial institution, bank fraud and mail fraud affecting a financial institution.

The scheme employed by the defendants was to conceal that the bank had mortgage loans in default and submitting related fraudulent security agreements.

GulfSouth failed in October 2012, with Pigeon Forge, Tenn.-based SmartFinancial Inc. unit SmartBank agreeing to assume all of the deposits and purchase essentially all of the assets of the failed bank through an FDIC-facilitated deal.