Bank CEO Sentenced To 14 Months In Prison For Taking Bribes In Connection With Loans Guaranteed By The Small Business Administration
The United States Attorney for the Southern District of New York, sentenced defendant EDWARD SHIN, a/k/a “Eungsoo Shin,” to 14 months in prison for his role in defrauding a Pennsylvania-based bank (the “Bank”) while serving as its CEO. Edward Shin was entrusted with stewardship of a Pennyslvania-based bank. Instead of promoting and protecting the bank’s interests, Shin used the bank as his own piggy bank, stealing from it to line his pockets and the pockets of his corrupt friends. In addition to the prison terms, SHIN was sentenced to three years of supervised release and ordered to pay forfeiture in the amount of $5,506,050 and a $600 special assessment fee.
California Man Sentenced to More than 4 Years in Prison in Nationwide $2.3 Million Fraud Scheme Under the Names Hope Services and HAMP Services That Victimized More Than 400 Homeowners Related to HAMP Program