Thursday, November 29, 2012

Shorebank News- Indicted state Rep. Ford denies charges: “No bank fraud in my blood.”

The Chicago Sun-Times reports:
A defiant state Rep. La Shawn K. Ford called a 17-count federal bank-fraud indictment lodged against him Thursday “ridiculous,” proclaimed his innocence and vowed not to step down from his West Side House seat. “There’s no bank fraud in my blood,” Ford told the Chicago Sun-Times.
There's more:
Ford, 40, of Chicago — who also invests in Chicago real estate — allegedly fraudulently obtained a $500,000 increase and a two-year extension on a line of credit from a failed bank called ShoreBank and made false statements to gain multiple advances, according to a federal indictment returned by a grand jury Thursday.
That Shorebank.