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Sunday, July 21, 2024 | Back issues
Courthouse News Service Courthouse News Service

Bank Fraud

A former pharmaceutical executive was convicted of fraud Monday after a three-week trial in Miami over his role in a $100 million scheme involving phony loan collateral that led to the collapse of a major Puerto Rican bank.

MIAMI – A former pharmaceutical executive was convicted of fraud Monday after a three-week trial in Miami over his role in a $100 million scheme involving phony loan collateral that led to the collapse of a major Puerto Rican bank.

Jack Kachkar, 55, was found guilty of eight counts of wire fraud affecting a financial institution. He will be sentenced in April.

Categories / Criminal, Financial, Trials

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