Columbia Capital Corporation-Computerized Banking (CLCK) Message Board

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Microcap & Penny Stocks : Columbia Capital Corporation-Computerized Banking (CLCK)

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To: Arcane Lore who wrote (759)	11/2/1998 8:20:00 AM
From: Arcane Lore	Read Replies (3) of 1020

FDIC sues execs of Boulder's BestBank ... Mattar's Nevada-based corporation, Effective Management Systems Inc., also was named as a defendant. Other defendants are Fort Lauderdale, Fla.-based Century Financial Group and its primary shareholders, Douglas R. Baetz and Glenn M. Gallant. These defendants helped BestBank issue credit cards through their All Around Travel Club, a discounted travel program that contacted potential customers by direct mail and telephone, offering $500 memberships. Those who joined were entitled to an unsecured BestBank Visa card with a $600 line of credit at 18 percent interest. The FDIC alleges that defendants schemed to defraud BestBank by hiding massive sub-prime lending losses. The complaint also says the defendants continued expanding the program even as losses were mounting. ... insidedenver.com ===== FDIC files suit against bank execs Complaints focus on defunct bank's policies regarding credit cards bouldernews.com

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