Bankers Deny Trying To 'Bust Out' Of $1M In Loans

Law360, New York (July 28, 2020, 8:29 PM EDT) -- Two HSBC bankers pled not guilty Tuesday after the Manhattan U.S. Attorney's office accused them of scheming to get $1 million of commercial loans, the proceeds of which one of the bankers allegedly thought he could "bust out" — or never repay.

Banker Herode Chancy and an alleged accomplice, businessman Adedayo Ilori, denied counts including conspiracy, fraud and identity theft while a second banker, Michael Albarrella, denied charges including bribery at a telephone arraignment before Manhattan U.S. District Judge Lewis J. Liman.

Chancy, Albarella and Ilori were arrested March 4 and released on bond set at $100,000 apiece by Manhattan U.S....

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