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State regulators in Colorado have filed fraud charges against the former chief executive of Bank of Choice.
March 28 -
WASHINGTON — Two failed banks in Florida went to one acquirer Friday, and regulators also shut a $1 billion-asset bank in Colorado, as the year's failure total reached 58.
July 22
The former president and chief executive of Bank of Choice in Greeley, Colo., will pay $65,000 to investors to settle charges he violated registration and anti-fraud provisions of the Colorado Securities Act.
Darrell McAllister allegedly launched an unregistered preferred stock offering in the summer of 2008, according to a
Bank of Choice
McAllister also agreed not to violate securities laws as part of the settlement, according to Colorado Securities Commissioner Fred Joseph.
The settlement was filed Thursday in Denver District Court, though it still needs judicial approval