Bank of America branch under FBI investigation
LOSSES & LAWSUITS
The investigation, which involves three suspects, was not instigated by the bank but because the missing amount met "the threshold for FBI involvement", said FBI spokesman Ken Lucas.
The case came to the FBI's attention after a civil claim was filed on October 24 in Mecklenberg County, according to local press reports. In the claim, Bank of America alleged that then-bank vice-president Loren Hamlin helped Nags Head real estate broker Michael Lam and Roanoke Island resident Rex Tillett divert $13 million from bank customer accounts to buy 587 acres in Perquimans County.
No charges have yet been brought against the suspects, Lucas said, since the investigation is only at an "early stage".
All those accused have denied involvement in any fraudulent activity.
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