Tuesday, March 16, 2010

Park Avenue Banker Arrested On Stimulus Charges

Charles Antonucci

Charles Antonucci, the former head of Park Avenue Bank, was arrested by the U.S. federal government on charges of stimulus fraud, regarding misuse of TARP funds.

The privately owned, Park Avenue Bank, recently collapsed and was seized by federal regulators, who now allege Antonucci stole $6.5 million dollars in TARP money, to fund a lavish lifestyle.