Monday, July 13, 2009

MetaBank Sued Over Fraudulent Certificate of Deposits

This article in discusses how a former MetaBank employee, Charlene Marie Pickhinke, recently pleaded guilty of stealing $4.2 million, and now the bank is being sued by over 8 different groups that were affected by the fraudulent certificate of deposits.

Between the years of 1995 and 2008, Pickhinke sold fraudulent CDs to about 50 credit unions and banks. She faces an $8 million fine and up to 82 years in prison. MetaBank has since been cooperating with authorities on the case.

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