Capital Briefs: Former Calif. Banker Charged with Fraud

The Office of the Comptroller of the Currency is charging a former California banker with fraud.

Richard Salmon, former vice president of the Bank of the Desert, Indio, Calif., is scheduled to appear before an administrative law judge today. The OCC alleged that from 1992 to 1996, Mr. Salmon originated 24 fictitious loans, totaling nearly $2 million, and used the proceeds for his personal benefit.

The agency is seeking $813,670 in restitution for 16 of the loans the bank was forced to charge off. Mr. Salmon also faces a lifetime ban from banking and a $25,000 civil money penalty.

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