North Carolina Bank Agrees to Pay $400,000 in Restitution to Victims of Investment Fraud Scheme It Failed to Detect and Report
WASHINGTON – CommunityONE Bank N.A., based in Asheboro, N.C., with 45 offices throughout the state, has entered into a deferred prosecution agreement with the Department of Justice related to its failure to file a suspicious activity report (SAR) and maintain an effective anti-money laundering program, announced Assistant Attorney General Lanny Breuer of the Criminal Division and U.S. Attorney Anne Tompkins of the Western District of North Carolina. The bank has agreed to pay $400,000 toward restitution to victims of a third-party ponzi scheme that operated through accounts maintained at the bank. The criminal information filed today in U.S. District Court for the Western District of North Carolina charges CommunityONE Bank with failing to maintain an effective anti-money laundering program. CommunityONE Bank waived indictment and accepted and acknowledged responsibility for its conduct. The deferred prosecution agreement, also filed today, recognizes that the bank has committed t...