| On the Move
Bank of America has named Kathie Sowa market president for the Sacramento region. She will provide business, civic and philanthropic leadership for the bank. Sowa will improve coordination among local bank business lines, align philanthropic and sponsorship resources to local market needs and lead marketing initiatives to strengthen the Bank of America brand. She is one of 14 market presidents through the state. Sowa joined the bank in 1997 and has worked in commercial real estate, special assets, risk management and commercial banking. She also is an executive in the company's global product solutions division. * * * Teri Bergthold has been named director of builder services for Augustine & Associates. She will provide leadership and guidance to the account services team.
Probe recovers $780,000 from investment fraud
Missouri Secretary of State Robin Carnahan was in Springfield Thursday to announce the completion of an investigation resulting in the recovery of more than $780,000 in restitution from a firm whose former employee defrauded Missouri investors.
Carnahan�s Commissioner of Securities, Matt Kitzi, entered into a consent order on Nov. 9 with Investment Centers of America ICA, the former employer of a Joplin-area investment adviser, Mark L. Henry, who defrauded investors out of more than $800,000. The order will recover over $1 million in restitution, fines and penalties.
Henry was a Missouri-registered agent and investment adviser for ICA from October 1994 until September 2005. After his termination, Henry used a personal bank account to fraudulently continue conducting business as a representative of Investment Centers of America.
Accused adviser's former employer pays restitution
The former employer of a Joplin investment adviser accused of fraudulent practices will pay more than $1 million in restitution in fines, penalties and fees, Missouri Secretary of State Robin Carnahan announced Thursday. Two Carthage couples and a Joplin woman, all former clients of adviser Mark L. Henry, joined Carnahan in Springfield to make the announcement. State authorities say Henry mishandled approximately $800,000 in clients� funds. In November 2006, the Securities Division of Carnahan�s office issued an order accusing Henry of opening an unauthorized personal bank account and using it to conduct business as Investment Centers of America Inc., the firm that Henry sold securities through from October 1994 to September 2005. He allegedly used the account to collect clients� funds during and after his employment with ICA.
Arrest warrant highlights
In the affidavit, Waco police detective Charles Jaquith says he obtained records by subpoena for several banks where Mills and Downtown Waco did business. The investigation found the following: * Mills wrote 121 checks from Downtown Waco Inc. to herself, cashing some and putting some into her account at First National Bank of Central Texas. Other Downtown Waco Inc. checks were deposited into the account of her son, Richard Coke Mills Jr., at Bank of America. * Mills diverted into her private account at least 10 checks intended for Downtown Waco Inc., worth $19,939. That included checks of several thousand dollars from Kelly Realtors, Waco Independent School District, the Waco Tribune-Herald, McLennan Community College and Baylor University. * Mills wrote $40,800 checks to herself from a Downtown Waco Inc.
Northfield picks tough week for stick debut
STATEN ISLAND, N.Y. -- Northfield Bancorp Inc. (NFBK /NASDAQ Global Select Market) wrapped up it first two days of trading Friday with a positive, but relatively lackluster showing, closing at $10.58 a share. The stock made its market debut at 11 a.m. on Thursday with an offering of $10.02, and, by day's end, signed off at $10.45, an increase of less than 4.5 percent. From December 1997 to March 1998, three banks doing business on Staten Island went public, including the former Staten Island Savings Bank (now SI Bank & Trust), Richmond County Savings Bank and the former Independence Community Bank (now Sovereign Bank). In each case, the first-day "pop" -- the immediate increase from the subscription price -- was more than 60 percent. If history repeated itself for Northfield, its newly listed stock would have soared to over $16.
What to do when applying for mortgage loan
I was answering a readers question recently, and at the end of the conversation, they thanked me for the advice and asked me what I do. Needless to say, I was shocked, and then thought in all my years of writing these articles, maybe readers really don't know who I am or what I do. I guess I've always assumed everyone knew. I am a professional mortgage lender for the central Ohio area. I was born and raised in Newark, and it's my belief everyone should have the opportunity to achieve the American dream of home ownership. My knowledge of the lending process, the many programs available and credit scoring from seven years of lending is a valuable asset to those in search of this dream. .
E-mail helps locate missing brother
Before 48-year-old Albert Cothran disappeared, he had been living in Southern California for 30 years. He spent time in cities like West Covina and Baldwin Park as well as Los Angeles, which only made it harder for his family in North and South Carolina to know where to begin looking for him after they lost him. Albert had suffered from a series of strokes and seizures since his 30s, finally restricting him to a wheelchair and putting him in and out of supportive facilities. When he called his brother Jasper in January, he said in slurred speech that he'd had another stroke and was in a hospital. Before Jasper could find out where Albert was, the line went dead. Jasper has spent the rest of the year looking for him. This week, Jasper sent out a desperate e-mail to two dozen Southern California groups: homeless service agencies, police, even the county coroner.
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