At Sentencing, Ex-CEO Argues $100M Fraud Didn't Sink Bank
Law360, Miami (July 1, 2019, 11:05 PM EDT) -- With a potential life sentence at stake, a convicted former medical device company executive and prosecutors sparred over testimony Monday on the connection between a $100 million loan fraud scheme he orchestrated and the collapse of one of Puerto Rico's largest banks.
On the first day of the sentencing hearing for former Inyx Inc. CEO Jack Kachkar, his attorneys focused on reports and allegations that leadership at Westernbank Puerto Rico acted recklessly while rapidly growing the bank's loan portfolio in the years just before the Great Recession hit. They contended Kachkar is being scapegoated for those failures and urged U.S. District...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!