CORTEZ, Colo. – A mom-and-daughter team who robbed Southwest Colorado FCU last year were rustled off to jail on Friday. Donja Vaughn and her 62-year-old mother, Sharon Vaughn, were sentenced to three years and 12 years in prison for stealing horses in Kansas and Utah while they were in the horse-breeding business. “This case indicates that Colorado still takes horse thieves very seriously,” said state Attorney General John Suthers after the sentencing. The mother-and-daughter bandits are scheduled to be sentenced later this summer for the May 2005 robbery of $105,000 from the credit union. Mother and daughter were arrested after police searched their apartment and discovered more than $40,000 in credit union loot hidden there. They first became suspects when Sharon Vaughn tried to pay her back rent with $20,000 in $20 bills stolen from the credit union. The two women tried unsuccessfully to commit suicide after they learned police were on to them.
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Backed by tech billionaires, the crypto-focused digital startup bank's timely application reflects the current administration's openness to new tech-driven banking models — and raises concerns about regulatory impartiality, considering its backers' political ties.
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The application follows on the heels of Circle and Wise, as crypto and payment companies seek crypto custody approval and direct access to the Federal Reserve payment system.
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The credit union regulator, responding to a recent executive order, has established strict new standards for prosecuting financial crimes. Regulators are now supposed to make criminal referrals only in cases where putative defendants appear to have known they were breaking the law.
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Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.
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Baton Rouge-based Investar Holding Corp. has agreed to pay $84 million for Wichita Falls Bancshares, which operates five branches in the Dallas-Fort Worth Metroplex.
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A federal judge in New York has rejected Huawei's effort to toss charges alleging bank fraud, sanctions violations and trade secrets theft.
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