SPRING, Texas–Police said they believe an armed robbery at a branch of Investex Credit Union here was an inside job. According to police, Dorcell Devon Johnson, 18, a member services rep at ICU, conspired with Dominique Sherrard Ervin and Carl Edward Preston to steal $200,000 in the robbery. Police are further alleging that Johnson admitted planning and robbing the same credit union a few months earlier.Police said that Johnson was working on the day that Preston and Erving stormed into the credit union with shotguns in hand. After taking a pistol and cell phone from a security guard, the pair ordered the guard to the vault and ordered employees to stuff money into a bag. Ervin fired a shot into a security monitor that was in the vault, before fleeing with Preston.An FBI agent investigating the robbery told local media that suspicions arose after security tapes showed that Johnson appeared “unafraid” during the robbery. Johnson had worked at ECU for two years, but is no longer with the Houston-based credit union. The The Harris County Sheriff's Office found three shotguns and money that had been stuffed in stacks with straps marked with the credit union's name in Johnson's apartment. About $6,000 of the money stolen in the two heists has been recovered.
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The "near-prime" lending fintech Avant is seeking to become a full-service bank by filing for a national de novo bank charter with federal regulators.
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Citadel Credit Union recently closed a $50 million loan on a Philadelphia office tower. It's part of a trend, as credit unions build their commercial real estate lending businesses.
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State Street promotes Ann Fogarty to chief operating officer and names Mostapha Tahiri president of State Street Alpha; Florida's Portrait Bank expects to open for business on Saturday; Texas Capital Bancshares is on the lookout for a new chief risk officer following the departure of David Oman; and more in this week's banking news roundup.
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