Bank fraud — sufficiency of the evidence, FDIC status

Posted November 11, 2021 10:49 AM

Where government provided significant evidence showing that bank that defendant defrauded was continuously insured by FDIC during relevant time period, evidence was sufficient to convict defendant on bank fraud charge.The 7th U.S. Circuit Court of Appeals affirmed a decision by Judge Virginia M. Kendall, Northern District of Illinois.Carl P. Palladinetti knowingly participated in a years-long scheme to defraud lenders. He and others used the scheme to purchase at least 30 apartment buildings in the Chicago area and resell …

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