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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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