- Associated Press - Friday, August 28, 2015

PORTLAND, Ore. (AP) - The former president of the Bank of Oswego, who is charged with bank fraud, is taking the feud over his criminal defense costs to court.

The Oregonian reports (http://bit.ly/1KqpX4n ) Dan Heine filed a lawsuit Wednesday against the bank he co-founded, claiming the bank’s charter guarantees it will cover upfront legal costs. But the bank argues that provision only applies if executives act in good faith.

Heine has been appointed a taxpayer-funded Portland attorney, but he already hired New York City white-collar attorney Jeffrey Alberts and agreed to pay him $400,000.

Heine’s attorneys say the bank must advance Heine the money.

Heine and the bank’s former chief financial officer are accused of hiding bad loans from regulators. They face 27 criminal charges.

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Information from: The Oregonian, http://www.oregonlive.com

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