Word: dimes
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...mayor, in fact, testified on the city councillor's behalf in March, when Walsh was convicted on 41 counts of bank fraud in connection with a scheme to swindle the Dime Savings Bank of New York of $2.9 million...
...recent weeks, however, Dime borrowers andlegal experts have suggested that federalinvestigators were wrong to target Walsh. Theysaid employees of the bank may have perpetratedthe fraud, and that Walsh was used as a scapegoat...
...There was a pattern of falsifications ofsecond mortgages," Richard V. Kelleher, who headsthe Dime Borrowers Association on Cape Cod, saidin an interview earlier this month. "The bank setup the whole scheme, but the bank walks offclean...
...addition, borrowers note that in a recentcompanion case to the prosecution of Walsh, 102counts of bank fraud against attorney Alan H.Segal were dismissed. The difference in that casewas that Judge Edward F. Harrington allowedtestimony about Dime, while Walsh's judge, Mark L.Wolf, ruled such lines of inquiry out of order...
Borrowers allege that Dime set up a loanprogram in the late '80s called the "no documentloan program" which ensured loan approval within48-hours. Vital information about those who tookout loans was not verified under this system