Emma C. Chappell, one of the nation's most prominent and highly regarded African-American bankers, has been ousted from the institution she founded and is being sued by it for fraud.

United Bank of Philadelphia alleges in court papers that Ms. Chappell fraudulently obtained an office building and leased it back to the bank at excessive rates. Ms. Chappell was fired as the eight-year-old bank's chairman, president, chief executive officer, and chief lending officer in May.

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