Fraud-victim advocates: N.H. agency failed to require fidelity bond

09/25/2013 | New Hampshire Business Review

A couple advocating for victims of a Ponzi scheme involving a bankrupt mortgage firm said that the New Hampshire Banking Department neglected to require the company to obtain a legally required fidelity bond against fraud. The deputy banking commissioner said that the fidelity-bond law applies to banks but not mortgage brokers. The Banking Department is now seeking nearly $100,000 from the estate of the firm.

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