9th Cir. Axes Ex-Bank Executives' Fraud Conspiracy Charges

By Lauren Berg (October 8, 2021, 9:32 PM EDT) -- A split Ninth Circuit on Friday vacated conspiracy and fraud charges against a pair of former Oregon bank executives accused of defrauding the financial institution, rejecting two of the government's three theories about what property interest the bank lost.

In a 33-page opinion, the two-judge majority vacated Dan Heine and Diana Yates' convictions of conspiracy to commit bank fraud and making false bank entries at the Bank of Oswego, saying federal prosecutors' theories that the pair deprived the bank of accurate information in its records and their salaries and bonuses don't hold up.

"There is no cognizable property interest in 'the...

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