Monday, May 24, 2010

Intregrity Bank / Christian Principles Fail

Two former officers of Georgia's "faith-based" Integrity Bank and a hotel developer have been indicted for financial crimes per John Gittlesohn in 

Developer Guy Mitchell is charged with borrowing 80 million dollars from Integrity Bank under false pretenses, with the help of bank executive, Douglas Ballard. 

Another bank officer, Joseph Foster, is charged with insider trading for selling his bank stock when he learned of the fraudulent loans. 

Integrity Bank was founded on "Christian principles" in 2000 and failed in 2008.