The federal government filed criminal charges and civil suits yesterday against several top officials of United Commercial Bank, a San Francisco financial institution that did hefty business among Chinese-American immigrants before it collapsed in 2009.Tommy Wu, the bank's CEO, was the subject of ... More >>
What did Doreen Wu Ho Know About Tommy Wu? And When Did She Know It?Earlier this month, Mayor Ed Lee appointed a new port commissioner, which raised many eyebrows here, given that Doreen Woo Ho was a top official at the failed United Commercial Bank. In November 2011, United Commercial Bank was s ... More >>
How a wannabe banking magnate from S.F. built an empire on deception.
What's next?Los Padres Bank -- the Solvang lender hit by a Rincon Hill real estate scam created by alleged con man Kaushal Niroula -- has been taken over and sold by the Federal Deposit Insurance Corp., according to a Friday press release.The FDIC estimated the cost to the deposit insurance fund ... More >>
On Friday, July 17 The Snitch warned readers that an advertisement published in the previous Sunday's San Francisco Chronicle seemed intended to lure mom-and-pop investors into possible financial disaster.News headlines Monday suggest our warning was valid. Advanta Corp., a bank holding company s ... More >>
Despite Obama's promises of change, corporate crooks are still going unpunished for their roles in the financial collapse.
Banking experts qualify the service being hawked in this San Francisco Chronicle ad as a potential Ponzi schemeReaders skimming the ads on page D-2 of the Sunday, July 12 San Francisco Chronicle might have been surprised to see an extraordinary investment opportunity in a quarter-page advertisement ... More >>
How Federal Home Loan Banks and their execs exacerbated the banking meltdown.
An investigator who exposed dishonest savings and loan regulators in the '80s re-encounters an old rival in the latest banking crisis.
Darrel Dochow, the banking regulator found to have allowed IndyMac Bank to falsify financial records just before the Southern California lender collapsed last summer, confirmed in an e-mail that he will resign his post in March. In his resignation letter, Dochow notes that upon retirement he will re ... More >>