US Bank

Diversion of $34 million in home-sale proceeds into company accounts at Peoples Bank of Northern Kentucky and US Bank

Corruption Cascades: Bill Erpenbeck was authorized by some of his lenders (including Firstar/U.S. Bank) to receive and hand deliver home buyer closing funds. But instead of delivering the funds to his bank construction loans, he was depositing them in Erpenbeck accounts at Peoples Bank and U.S. Bank  Deep qt

How the Erpenbeck Co. crumbled. Erpenbeck deposited the stolen checks into its business account at Firstar -- right under the noses of the bank owed the money KY Post

Laid Off Erpenbeck Employee Speaks Out - Sources told Robertson that Erpenbeck would close on a property, and deposit checks meant for lenders into the company account at Peoples Bank, and another account at Firstar Bank. Robertson reported that it may have been going on for as long as two years, the dollar figure could be as high as $25 million Channel Cincinnati

Erpenbeck tape used in lawsuit. Erpenbeck said he was aware of the gravity of the bank's problem from Roger Watson, U.S. Bank's former executive vice president. I talk to Roger Watson the other day, and ... he thinks it is very important to keep it quiet because he said it's a huge embarrassment for their company Enquirer

Erpenbeck pleads guilty to bank fraud: Diversion of $34 million in home-sale proceeds into company accounts at Peoples Bank of Northern Kentucky and U.S. Bank Enquirer

US Bank knew builder's problems,suit says: Filing says bank responsible for Erpenbeck losses Enquirer

Probe involved massive paper chase. The investigation eventually identified 295 transactions and 260 buyers whose payoff checks were illegally diverted into Erpenbeck Co. accounts at Firstar Bank - now U.S. Bank -and Peoples Bank of Northern Kentucky KY Post

Erpenbeck cash buyers sue.  An estimated 20 to 25 cash-buyers stung in the scandal have filed their own class-action lawsuit in Boone Circuit Court in an attempt to have banks release the liens on their homes Enquirer

Erpenbeck Victims Get Settlement - Their long court fight to clear titles to their properties is over. District Judge William Bertlesman approved a $2.8 million settlement with People's Bank and U.S. Bank  WCPO

Cash buyers sue to get liens lifted The lawsuit also contends that the banks knew or should have known that Erpenbeck or its affiliates were withholding money meant to pay off loans   KY Post

Woman Devastated By Erpenbeck Fraud Wins Class Action Suit WCPO 

Cash buyer settlement approved - Mortgage-financed purchases included checks written specifically to the banks that paid for construction of those homes, and Erpenbeck stole those checks and deposited them in Peoples Bank and Firstar, now U.S. Bank. Because the banks allowed the checks to be misdirected, they had legal culpability that was the basis for a successful class-action lawsuit that concluded last year for more than 200 mortgage-financed purchases KY Post

Erpenbeck Story Archive Kentucky Post

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