WASHINGTON -- Two Florida businessmen have been arrested and charged with bank fraud and money laundering in connection with a scheme to defraud the Resolution Trust Corp. and the Small Business Administration, the RTC announced Thursday. The two were identified as Jack J. Pearson and Patricia D. Richards, both of North St. Petersburg, Fla.
The federal complaint alleges that their company, Largo-Belleair Corp. of Largo, Fla., bought a bank building from the RTC for $450,000 by using false financial information on their application for an RTC loan, which was for 70% of the puchase amount.
