Ex-Orion Bank CEO Cops To Lending Conspiracy

Law360, New York (February 3, 2012, 8:47 PM EST) -- The former CEO of Florida's failed Orion Bank pled guilty Friday to federal charges that he had conspired to illegally lend millions of dollars for the purchase of the bank's own stock in order to help raise capital for the then-struggling bank, then lied to officials about it.

Jerry J. Williams admitted in a plea agreement that in June 2009 he had arranged for loans to companies controlled by purported real estate investor Francesco Mileto, knowing Mileto intended to use $15 million of the money to...
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