multimillion-dollar fraud has been sued by a shareholder who claims its management fell asleep at the wheel.
Belmont National Bank in Bridgeport had said this summer that a three-year-old scheme perpetrated by a bank officer and a borrower had cost it $15 million. The parent Belmont Bancorp. posted a third-quarter net loss of $3.9 million, and its stock has fallen roughly 70% since January. It was trading at $7 at midday Tuesday.