WHAT A HEEL: Down-At-The-Heels CEO Of Bank For The Well-Heeled Charged With Embezzlement

Federal prosecutors have charged Park Avenue Bank CEO Charles Antonucci with fraud, bribery, embezzlement and stealing from a church to further his application for $11.3 million in federal bailout money, “the first such executive to be so charged,” reports Crain’s New York Business:

 

A 10-count complaint against the 59-year-old Mr. Antoncci, who served as Park Avenue Bank's top executive from 2004 until last October, describes a three-year trail of criminal activity driven by the CEO's efforts to shore up his teetering bank and line his pockets at the same time.

 

Antonucci was released was released from federal custody on personal recognizance.

 

[Hat Tip: The Heel, an Ivy-educated attorney with a prestigious New York firm, and occasional contributor to this blog.]

Posted by The Stiletto at March 15, 2010
Categories: What a Heel
 

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