MILWAUKEE - (12/03/04) -- A suspect in as many as a dozenkidnap-robberies was finally captured last week when Milwaukeepolice arrested him and a partner as they showed up to exchangetheir latest kidnapping victim for ransom. After his arrest,26-year-old Lamar Ray told FBI agents that he'd mastermindedsimilar crimes, beginning in 2001 when he targeted two employees ofthe Educators CU. But both attempts were botched. In one instance,an employee was shot in the shoulder. In the other, the employeewas tied up in her own garage and forced to hand over the keys, butRay told investigators he couldn't get them to work. Ray toldauthorities he learned from his mistakes in the failed credit unionincidents a year later, when he kidnapped the manager of anotherEducators CU branch, then he tied up her husband and son, beforeforcing her to open the credit union. He used the same plot insimilar robberies at Checkland and Check Cashers last year, policesaid.
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First Northwest Bancorp in Port Angeles has selected an Everett, Washington-based competitor's president to serve as its new top executive.
September 12 -
The Charlotte-based megabank announced that it had appointed two business leaders to be co-presidents of the bank, and elevated its chief financial officer to serve as executive vice president.
September 12 -
The Massachusetts bank is being accused of aiding and abetting the operation of a Ponzi scheme centered in Hamilton, New York. The bank declined to comment on the allegations.
September 12 -
City National Bank promotes Brandon Williams to head private banking and wealth management; a former U.S. Postal Service letter carrier is sentenced to five and a half years for stealing over $10 million in checks from the mail; Lazard expands its North American investment banking franchise with two managing director hires; and more in this week's banking news roundup.
September 12 -
The government-powered network is allowing larger payments to settle instantly, a move The Clearing House has also made for its RTP network. Payment experts say more than higher limits are needed to make speedy processing ubiquitous.
September 12 -
The world's largest stablecoin issuer is preparing to launch USAT, its U.S.-regulated, dollar-backed stablecoin, by the end of the year, Tether CEO Paolo Ardoino told reporters at an event in New York. Bo Hines was also named CEO of USAT.
September 12