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.
-
A housing bill that already passed the Senate cleared the House Monday evening, but included bipartisan community banking provisions that have already raised objections in the upper chamber.
28m ago -
Fifteen banks have failed since November 2019, with the most recent one occurring on Jan. 30.
2h ago -
The Government Accountability Office was tasked with investigating the Consumer Financial Protection Bureau's stop-work order, but CFPB officials refused to meet with or provide information to Congress' investigative arm.
2h ago -
Federal Reserve Gov. Christopher Waller said comments from banks and fintech firms reveal sharply different priorities in the creation of the central bank's proposed "skinny" master accounts.
3h ago -
Check fraud has risen 385% since the pandemic, with criminals using stolen mail and digital tools to deceive major financial institutions.
4h ago -
The activist investor HoldCo Asset Management said Monday that it doesn't plan to pursue proxy battles this spring at either Key or Eastern. It had been agitating publicly over the banks' M&A strategies.
4h ago





