Bank Executives Accused Of Hiding Loan Default Information - Northern Michigan's News Leader

Bank Executives Accused Of Hiding Loan Default Information

Posted: Updated:

Several former Northwestern Bank Executives face charges for trying to hide loan default information.

Harry Calcutt III, William Green and Richard Jackson are all accused of what the FDIC calls unsound banking practices.

Calcutt was the bank's president and CEO, Green was a loan officer, and Jackson was the bank's executive vice president.

The FDIC says between 2009 and 2011, the former executives tried to hide loan defaults by the bank's largest borrower. To date, $27 million remains uncollected.

The lawsuit says Calcutt benefited from the dishonesty, and seeks to ban all three from future banking practices.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Antrim County Deputy Accused of Theft

    Antrim County Deputy Accused of Theft

    Tuesday, July 22 2014 1:39 PM EDT2014-07-22 17:39:26 GMT
    An Antrim County Sheriff's deputy is being charged with theft crimes today. The Antrim County court says Deputy Michael Bingham is accused of taking money that was seized during the search of a home in Mancelona.
    An Antrim County Sheriff's deputy is being charged with theft crimes today. The Antrim County court says Deputy Michael Bingham is accused of taking money that was seized during the search of a home in Mancelona.
  • GT Co. Police Investigating Meijer Retail Fraud

    GT Co. Police Investigating Meijer Retail Fraud

    Tuesday, July 22 2014 1:00 PM EDT2014-07-22 17:00:59 GMT
    Grand Traverse County Sheriff's Office is investigating a retail fraud complaint. The incident occurred Monday, July 21 around 7:40 p.m. at Meijer in Traverse City.
    Grand Traverse County Sheriff's Office is investigating a retail fraud complaint. The incident occurred Monday, July 21 around 7:40 p.m. at Meijer in Traverse City.
  • Two Admit to Making Meth in Wexford County

    Two Admit to Making Meth in Wexford County

    Tuesday, July 22 2014 11:00 AM EDT2014-07-22 15:00:34 GMT
    An update on a story we first told you about in March. Two people accused of making meth in Wexford County have admitted to the crime. 
    An update on a story we first told you about in March. Two people accused of making meth in Wexford County have admitted to the crime.