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Former bank officer pleads guilty to fund misapplication

A former president of First Bank Mortgage has pleaded guilty to misapplication of funds, causing a loss to the mortgage company of $35 million, U.S. Attorney Catherine Hanaway announced. Mark Turkcan's problems began when, as an employee for Sheahan Financial in 1987, he bought and sold mortgage-backed securities. When the stock market tanked that year, the ...

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