Cookie-Jar Capitalism

MacDonald, Elizabeth
February 2007
Forbes Asia;2/12/2007, Vol. 3 Issue 3, p30
This article talks about a fraud involving the Business Loan Express (BLX) unit of the U.S. government. The point of entry for the alleged scam is Patrick Harrington, former BLX executive vice president. Harrington was charged with bank and wire fraud and conspiracy for issuing 76 fraudulent Small Business Administration (SBA) loans worth $77 million. Harrington says his lawyer is adamant that he was never involved in issuing 76 fraudulent loans. Still the SBA appears to be out $28 million so far.


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