Wisconsin Banking Update
Providing banking news in Wisconsin that Wisconsin Bankers can use. Keep on top of all the banking issues that are affecting Wisconsin in one place. If you would like to receive these updates by email please subscribe by entering your email address on the right. There is no cost and no obligation.
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Ex-Bank Manager Indicted for Embezzling
Posted on November 19th, 2010 No commentsThe former assistant manager of Park Bank’s Sun Prairie branch was indicted on accusations that he embezzled $227,764 from the bank last year, the Wisconsin State Journal reported. -
Fake $20 Bills Turn Up in Madison
Posted on November 8th, 2010 No commentsMadison police are asking businesses to watch for counterfeit $20 bills after four bogus bills were passed at two restaurants. All four fake $20 bills had the same serial number: IA25114453B, according to the Wisconsin State Journal. -
Borrowers Owe $4M in Bank Fraud Case
Posted on October 2nd, 2010 No commentsOwners of a now-defunct Mosinee car dealership must pay more than $4 million for providing false financial information to a bank. The two owners of the former Smith Brothers Ford — were found by a jury to have used falsified IRS forms to acquire $9.3 million in loans from Mid-Wisconsin Bank, according to the Wausau Daily Herald. -
Well-Publicized Subprime Mortgage Cancelled
Posted on September 24th, 2010 No commentsMore than three years after he says he was duped into buying an inner city house and taking out a subprime mortgage loan, buyer Pedro Medellin is off the hook. Central States Mortgage Co., the now-closed mortgage lender, agreed to agreed to cancel the $103,500 mortgage Medellin took out in 2007. Medellin, a Waukesha bank teller, said he was tricked into buying the house when he thought he was just filling out a lengthy job application, according to the Milwaukee Journal Sentinel. -
Stolen Church Funds Recovered After Cyber Theft
Posted on September 23rd, 2010 No commentsFederal authorities continue to investigate a cyber theft of $121,000 from a prominent Catholic church in Brookfield that has all the markings of a sophisticated Internet crime operation. St. John Vianney learned from its commercial banker that blocks of money had been withdrawn from one of its accounts through a series of unusual transactions. The bank has since reportedly recovered $84,000 of the money, according to the Milwaukee Journal Sentinel. -
Police Seek Two Suspected of ATM Skimming
Posted on September 22nd, 2010 No commentsEau Claire police have released pictures of the men they believe are responsible for an attempted identity theft. Two men are suspected of placing a skimming device on an ATM at the U.S. Bank on Golf Road near Oakwood Mall. They were seen driving a dark-colored two-door BMW with Illinois plates, according to WEAU-TV Channel 13. -
Phony ‘Mystery Shopper’ Check Arrives in Mail
Posted on September 22nd, 2010 No commentsA Schofield woman went to police instead of depositing a check she received in the mail, likely saving her account from being drained. The check appeared to be a mystery shopper scam, WSAU radio reported. -
Man With Binoculars Charged in ATM Fraud
Posted on September 21st, 2010 No commentsA man in Mount Pleasant, Wis., has been charged for allegedly spying on ATM users with binoculars, then using their personal identification numbers to pull money from their accounts. Employees said he would watch as people completed their transactions, then immediately drive up behind them and attempt his own transaction. The people that police spoke to said they did not completely close out their session at the ATM before the man made his alleged attempts to get money from their accounts. Read more in the Racine Journal Times.
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Ex-Lawyer Charged with Bank Robbery
Posted on August 4th, 2010 No commentsA suspended lawyer awaiting sentencing in federal court for bank fraud for bilking millions from a trust account has been charged with robbing the Town Bank branch in Wales on June 12, the Milwaukee Journal Sentinel reported.
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Plea Deal Reached in Embezzlement Case
Posted on July 27th, 2010 No commentsKenneth Hamberger of Green Bay, who worked for Citizens Community Bank in Eau Claire for 15 years, has reached a plea agreement on charges of embezzling $22,000 from his former employer, according to WQOW Channel 18 in Eau Claire.