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U.S. prosecutors dismiss criminal charges against North Carolina bank

Charges arising from a suspected Ponzi scheme dropped

In 2011, a new bank, CommunityOne, was formed in North Carolina, via a combination of other banks, and amid just a bit of controversy.

At the time, there were stipulations for the merger. The banks were required to resolve a claim made by federal prosecutors arising from a 2010 subpoena of one of its customers, who was subsequently convicted of running a Ponzi scheme.

Senior Editor and Community Manager

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Rich Steeves

Richard P. Steeves is Senior Editor and Community Manager of InsideCounsel magazine, where he covers the intellectual property and compliance beats. Rich earned a B.A....

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