Fraud Talk: Confessions of a Fraudster
In this episode of Fraud Talk, the ACFE's Chief Training Officer John Gill sat down with Charles Antonucci, the former president of The Park Avenue Bank, who was convicted in 2015 of trying to defraud the Troubled Asset Relief Program (TARP). Antonucci also pleaded guilty to other charges including self-dealing, bribery, embezzlement of bank funds, and a multi-million fraud scheme involving an insurance company. The ACFE does not compensate convicted fraudsters.In this excerpt, Charles Antonucci speaks about running The Park Avenue Bank during the Great Recession:Charles: We grew the bank immediately from-- I think the first year we went from 25 million to 100 million. We used broker deposits as a tool. Then within the first three years, we were close to 400 million. I built the branch in Borough…