SPOKANE, Wash. - (04/17/06) A convicted con man pleadedguilty Friday to bilking a local title agent who stole more than$670,000 from credit union and bank customers so she could pursue aget-rich scheme known as the Nigerian Letter. TerryAyeni, 42, a Nigerian national, duped Donna Burbank into lootingfunds she held in escrow for homebuyers and their lenders to helpAyeni and accomplices recover what they billed as $35 million incash that had been blackened to get it through U.S. Customs.Burbank is serving a three-year prison sentence for stealing thefunds, $170,000 of it from Coulee Dam FCU. Ayeni pleaded guilty toone count of conspiracy and agreed to provide information about atleast three others involved in the scheme. The Nigerians convincedBurbank they needed funds to pay to have the cash cleaned after itcleared Customs, according to prosecutors. Ayeni is already servingtime in Ohio for an identical scam in New York and was scheduled tobe deported to Nigeria when his term expires, but is now expectedto receive a longer term when he is sentenced in June.
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Governor Gavin Newsom announced the swearing in of Rohit Chopra as secretary of the California Business and Consumer Services Agency, Amalgamated Bank of Chicago promoted Cherie Duve to executive vice president and chief legal officer, Ramon M. Rodriguez joins USCB Financial Holdings and U.S. Century Bank as an independent director, and more in this week's banking news roundup.
July 3 -
The Open Standard consortium understands what makes a stablecoin valuable isn't how digital it is, but how ubiquitous it is
July 3 -
Low daily, weekly and monthly Zelle limits can cause users to switch to other payment networks, raising the ante for banks to find solutions.
July 3 -
A tour of the technology that banking has run on, dating back to Franklin's anti-counterfeit measures and the bank-note bulletin that preceded American Banker.
July 3 -
Sen. Elizabeth Warren, D-Mass., is asking President Trump's son Eric if he plans to refile a lawsuit against Capital One Financial for allegedly "debanking" hundreds of Trump Organization accounts. The letter follows President Trump's nomination of a Capital One executive to lead the Consumer Financial Protection Bureau.
July 2 -
The fintech sponsor bank plans to offer digital asset services.
July 2










