Items Tagged with 'Vanguard Funding'

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  • Third Vanguard Funding exec admits guilt in $8.9 million embezzlement scheme

    Former President of Sales Edward Bohm will likely join the CFO and COO in jail
    The saga of the New York-based Vanguard Funding's embezzlement scheme isn't over just yet. On Tuesday, former President of Sales Edward Bohm became the third exec to admit his role in the crime, pleading guilty to conspiring to commit wire fraud and bank fraud in connection with a scheme to embezzle $8.9 million in warehouse loans that were supposed to fund mortgage loans.
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  • Senior execs at Vanguard Funding sent to jail for embezzling $8.9 million

    CFO and COO previously admitted to using warehouse loans for personal expenses
    The former chief operating officer and chief financial officer of New York-based lender Vanguard Funding will spend between 18 and 24 months in prison after admitting to embezzling more than $8.9 million from warehouse lines of credit that were meant to fund mortgages.
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  • Senior execs at Vanguard Funding admit to embezzling $8.9 million

    CFO and COO plead guilty to using warehouse loans for personal expenses
    The former chief operating officer and chief financial officer of a New York mortgage lender admitted in court this week that they conspired to misappropriate more than $8.9 million from warehouse lines of credit that were meant to fund mortgages. Each now faces up to 20 years in prison.
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  • Senior execs at Vanguard Funding accused of embezzling $8.9 million

    Three execs charged with using warehouse loans for personal expenses
    Three senior executives at a New York mortgage lender were arrested Tuesday morning and charged with misappropriating $9 million from warehouse lines of credit meant to be used to fund mortgages. The three men, who are senior executives at Vanguard Funding, stand charged with conspiracy to commit wire and bank fraud for allegedly misusing the warehouse funds to pay for personal expenses and compensation.
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