Word: dime
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
Walsh is accused of 59 counts of bank fraud and conspiracy for heading a scheme to defraud Dime Savings Bank of New York of approximately $8 million to finance condominium developments in Massachusetts...
Walsh allegedly tricked Dime into issuing mortgages on condominiums to his friends and allies by offering to cover their down payments with "second mortgages" which he concealed from Dime. Dime required 20 percent down for its mortgages...
Walsh defrauded Dime to obtain the mortgages because a personally-guaranteed, multi-million dollar loan to develop condominiums was in jeopardy unless he could secure more buyers, according to prosecutors...
Walsh maintains his innocence. He said the caseresulted from "Dime getting caught with theirpants down after making a lot of bad loans and notverifying anything...
...said he believes that Dime is using him as ascapegoat for failed mortgages