A former Arkansas bank executive has been accused of committing fraud in order to conceal losses on a $1.5 million loan.

Gary Rickenbach, 56, was a senior vice president of Onebanc in Little Rock when the loan became uncollectable in 2008, according to a Thursday press release from the Special Inspector General for the Troubled Asset Relief Program. In 2009, Rickenbach and others allegedly sought to cover up the bad loan by using Tarp funds to make loans to companies that Rickenbach had created or controlled.

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