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David Paul and the Big Time Bank Fraud of the 1980s

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Manage episode 464700394 series 3609305
Content provided by Sean Kipe and Jason Hoch, Sean Kipe, and Jason Hoch. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Sean Kipe and Jason Hoch, Sean Kipe, and Jason Hoch or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

David Paul, a prominent figure in the 1980s savings and loan crisis, was the head of CenTrust, a major financial institution in Florida. In 1990, federal regulators seized CenTrust Tower due to the bank's unsound financial condition, reporting significant losses. Paul was accused of draining millions from the failing institution, using the funds for personal expenses like life insurance premiums and lawn maintenance.

Paul faced two separate trials. In 1993, he was convicted on federal fraud charges for misusing company funds and faced a potential 350 years in prison. However, in 1994, he pleaded guilty to 29 criminal charges, admitting to stealing $24 million from CenTrust and concealing its financial problems from regulators. Despite his crimes, Paul was released from prison in 2004 and passed away in January 2022 at the age of 82.

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How It All Went South is a twice weekly podcast series hosted by Sean Kipe and Jason Hoch.

New episodes are published every Monday with an additional episode available early for subscribers on our Apple Podcasts channel every Friday. If you are a subscriber, you get all episodes ad-free.

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64 episodes

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Manage episode 464700394 series 3609305
Content provided by Sean Kipe and Jason Hoch, Sean Kipe, and Jason Hoch. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Sean Kipe and Jason Hoch, Sean Kipe, and Jason Hoch or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

David Paul, a prominent figure in the 1980s savings and loan crisis, was the head of CenTrust, a major financial institution in Florida. In 1990, federal regulators seized CenTrust Tower due to the bank's unsound financial condition, reporting significant losses. Paul was accused of draining millions from the failing institution, using the funds for personal expenses like life insurance premiums and lawn maintenance.

Paul faced two separate trials. In 1993, he was convicted on federal fraud charges for misusing company funds and faced a potential 350 years in prison. However, in 1994, he pleaded guilty to 29 criminal charges, admitting to stealing $24 million from CenTrust and concealing its financial problems from regulators. Despite his crimes, Paul was released from prison in 2004 and passed away in January 2022 at the age of 82.

Follow us on all the socials:

And... get merch at Printify!

Follow Sean Kipe:

Follow Jason Hoch:

How It All Went South is a twice weekly podcast series hosted by Sean Kipe and Jason Hoch.

New episodes are published every Monday with an additional episode available early for subscribers on our Apple Podcasts channel every Friday. If you are a subscriber, you get all episodes ad-free.

Reach us at [email protected] (especially if you have an idea about a story we should cover) or leave a message for us at 470-682-1280 and we might use your message on a future show.

Learn more about your ad choices. Visit podcastchoices.com/adchoices

  continue reading

64 episodes

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