Sterling Bancorp Sentenced To Pay $27M For Securities Fraud

[Gunnar Larson]

Sterling Bancorp Sentenced To Pay $27M For Securities Fraud

By Danielle Ferguson

Michigan-based Sterling Bancorp Inc. was sentenced by a federal judge
Wednesday to pay more than $27 million in restitution for fraudulently
handing out loans and for filing false securities statements that boosted
its reported revenue ahead of its 2017 initial public offering.

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https://www.law360.com/banking/articles/1701357?nl_pk=99a2a594-20ad-4b2f-a28e-cd0e62d896b6&utm_source=newsletter&utm_medium=email&utm_campaign=banking&utm_content=2023-07-20&read_main=1&nlsidx=0&nlaidx=2
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