ABL Borrower Jailed for Scheme to Defraud Amalgamated

ABF Journal illustrator Jerry Gonzalez provides his take on Rodney Watts’ scheme to defraud Amalgamated Bank of $2.1 million fraudulent loans.

ABL Borrower Jailed for Scheme to Defraud Amalgamated

The former chief investment officer of GDC Acquisitions was sentenced in federal court for defrauding Amalgamated Bank, GDC’s asset-based lender, of $21 million in fraudulent loans.