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Bank Defrauded of $16K PDF Print
Written by Steve Frank   
Friday, 01 April 2011 09:14

Officials with Wells Fargo reported a fraud loss of over $16 thousand dollars after a nearly $72,000 check was forged and deposited.  Wilkesboro Police were contacted by bank officials reporting that a check on Black Dog Consulting – C.H. Yarber Construction was stolen, the $71,988 check deposited into a Wells Fargo account of an employee of the firm.

The deposit was made at an ATM back in February and was returned with a stop payment, but by that time, $16,835 was taken from the account in various purchases and withdrawals.  So far, no arrest has come, but the suspect was listed. 

And on banking issues, Bank of Granite continues to struggle in the soft economy.  The Charlotte Observer reports losses slowed in 2010, but losses continued as the real estate market in the Catawba Valley, where the bank does much of its business, continued to falter.  It’s lending portfolio to shrink to $562 million, down from $775 million the year before. Under good news for the Granite Falls-based bank, the pace of loans going bad fell in the fourth quarter, and was expected to keep falling through 2011.


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