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A new lawsuit brought by a troubled metro Detroit-based bank seeks to oust its founder and controlling shareholder — a partial owner of the San Francisco Giants professional baseball team — who is accused of "improperly" enriching himself by more than $100 million.The lawsuit, filed…
After resolving a longstanding consent order from the Office of the Comptroller of the Currency and a shareholder lawsuit, Sterling Bank's CEO — an experienced turnaround artist — says the bank is largely done fixing the fallout from its fraud-ridden Advantage Loan program.
Sterling Bank & Trust reaches deal to settle federal lawsuit over a mortgage program in which documents were falsified.
Source: United States Department of Justice Criminal Division The former managing director of residential lending and two former loan officers of a financial institution headquartered in Southfield, Michigan, pleaded guilty to participating in a years-long scheme to originate fraudulent residential-mortgage loans through the bank’s low-documentation Advantage Loan Program.
Banker pleads guilty in scheme that implicates S.F. Giants owner View Comments Detroit — A banker on Wednesday admitted she participated in a criminal conspiracy involving a loan program that prosecutors say helped an owner of the San Francisco Giants reap a $115 million windfall. Former Sterling Bank & Trust executive YiHou Han, 38, of San Francisco, pleaded guilty to bank and wire fraud conspiracy in federal court in Detroit. She faces up to 30 years in prison but is cooperating with investigators. The plea deal gives federal investigators a key insider against others implicated in t...