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<DIV><FONT color=#ff0000 size=4><STRONG>Another good argument for the death
penalty:</STRONG></FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>
<P class=publish-date>Updated March 15, 2010</P>
<H1 id=story-title>Ex-Bank President Arrested for Allegedly Lying to Get TARP
Money</H1>
<P class=author></P>
<P class=source>AP </P>
<P id=story-dek class=deck><SPAN class=dateline></SPAN></P>
<P>The former president of a small community bank was arrested on charges that
he lied to the federal government to get a piece of the bailout program,
authorities said Monday.</P></FONT></DIV>
<DIV>
<DIV class="bodytext smalltext">
<P>NEW YORK -- The former president of a small community bank was arrested on
charges that he lied to the federal government to get a piece of the bailout
program, authorities said Monday.</P>
<P>Charles Antonucci Sr. was charged in a criminal complaint filed in U.S.
District Court in Manhattan with self-dealing, bank bribery, embezzlement and
fraud.</P>
<P>Authorities said the rip-off targeted the New York State Banking Department,
the Federal Deposit Insurance Corp. and the Troubled Asset Relief Program.</P>
<P>Antonucci resigned last year as president of The Park Avenue Bank, which is
headquartered in Manhattan with four retail branches in Manhattan and
Brooklyn.</P>
<P>Among other allegations, Antonucci was accused of using false information to
request $11 million from the federal government's TARP bank bailout program.</P>
<P>The complaint accused him of lying to banking authorities in late 2008 and
early 2009 to make them believe he had invested $6.5 million of his own money in
the bank when the money actually belonged to the bank.</P>
<P>After the application for TARP money was rejected, Antonucci did a media
interview in which he said the bank withdrew its application because of "issues"
with the TARP program and a desire to avoid "market perception" that bad banks
take TARP money, the complaint said.</P>
<P>Federal authorities say Antonucci actually wanted to obtain millions of
dollars for his own use, in part so he could obtain a controlling interest in
the bank.</P>
<P>They said he also permitted a former administrative assistant to obtain
$400,000 of loans the assistant was not qualified for. The complaint said the
former assistant is now cooperating.</P>
<P>The complaint alleged that Antonucci later used the former bank employee's
private plane on 10 or more occasions, including trips to Phoenix to attend the
Super Bowl, to Augusta, Ga., to watch the Master's golf tournament, a flight to
Florida to visit a relative and a flight to Panama.</P>
<P>Antonucci's lawyer, Charles Stillman, said he had just gotten a copy of the
charges. He declined immediate comment.</P></DIV></DIV></BODY></HTML>