12 unusual steps in a case of bank fraud

Here’s another case of financial malfeasance, in this case a tale of conspiracy, bribery, bank fraud and securities fraud. What’s so unusual about it?
  1. A hotel developer gave payoffs to a bank officer to get loans.
  2. The loans were for $80 million.
  3. The developer put about $20 million of the loans into his personal checking account.
  4. He bought a private island in the Bahamas (cost: $1.5 million)
  5. The bank failed.
  6. About one-third of the bank's losses came from loans to the hotel developer.
  7. Right before the bank collapsed, a bank vice president sold $350,000 in bank shares.
  8. The CEO began every business day praying with the top officers.
  9. They prayed underneath a plaque of “The Prayer of Jabez.” (see image above, and text below.)
  10. The bank was founded as a Christian, “faith-based” bank.
  11. The name of the financial institution?
  12. Integrity Bank.
    Unfortunately, I guess it's not so unusual.

    From Business Week>>

    The Prayer of Jabez
    Jabez called on the God of Israel, saying: Oh that You would bless me indeed and enlarge my territory, that Your hand would be with me, and that You would keep me from evil, that I may not cause pain.
    - 1 Chronicles 4:10

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