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Former bank officer to spend year in prison
Former president of First Bank Mortgage Mark Turkcan was sentenced to one year and one day in prison for the misapplication of $35 million. A federal judge also ordered him to pay restitution of nearly $25 million. Turkcan, 54, pleaded guilty in January to one felony count of misrepresentation of bank money by a bank […]
Former bank officer to spend year in prison, pay $25 million restitution
Former president of First Bank Mortgage Mark Turkcan was sentenced to one year and one day in prison for the misapplication of $35 million. A federal judge also ordered him to pay restitution of nearly $25 million. Turkcan, 54, pleaded guilty in January to one felony count of misrepresentation of bank money by a bank […]
SEC sues former bank officer for fraud
A week after pleading guilty to federal fraud charges, a former president of First Bank Mortgage is facing a civil suit by the U.S. Securities and Exchange Commission. The SEC suit against Mark T. Turkcan was filed Feb. 4 in the U.S. District Court in St. Louis. The SEC alleges Turkcan defrauded investors by scheming […]
Former bank officer pleads guilty to fund misapplication
A former president of First Bank Mortgage has pleaded guilty to misapplication of funds, causing a loss to the mortgage company of $35 million, U.S. Attorney Catherine Hanaway announced. Mark Turkcan’s problems began when, as an employee for Sheahan Financial in 1987, he bought and sold mortgage-backed securities. When the stock market tanked that year, […]
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