Regina vs. Grant Clark, and others

Financial Institution
Loan Fraud

$16 Million = $900 Thousand

This was an extensive check-kiting scheme whereby the accused defrauded two banks and one credit union for about $900,000.  However, over a period of seven months, $16,000,000 of bank deposits were generated, mostly involving checks issued to or from the controlled accounts operating within the kite.  Removal of these checks issued within the circle of controlled accounts reduced total deposits to less than $800,000 of money actually received from outside sources.

In preparation for trial in September 1980, a unique accounting schedule was designed to show the jury the chronology of those funds, which were disbursed from the circular flow of the kite to show personal benefit to the accused.  

A lesson learned here? That preparation of the jury presentation is not a side issue to be postponed until the end.  It’s the main event.