Ohio Bank Says Ex-Employee Stole $2.7M In Tax Project Fees

Law360, New York (November 1, 2013, 3:16 PM EDT) -- A former Huntington National Bank employee who managed the bank's investment program for low-income housing tax credit development projects scammed $2.7 million from the program by diverting development advisory fees to an outside account, says a lawsuit filed Thursday in Ohio federal court.

Ohio-based Huntington says the scheme ran for at least four years, but the bank says it didn't discover the missing money until it recently reviewed documents for a project that didn't require a development fee and discovered that a fee had nonetheless been...
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Case Title

The Huntington National Bank et al v. Molnar et al


Case Number

2:13-cv-01087

Court

Ohio Southern

Nature of Suit

Racketeer/Corrupt Organization

Judge

Algenon L. Marbley

Date Filed

October 31, 2013

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