- Associated Press - Saturday, June 27, 2015

PORTLAND, Ore. (AP) - Two former top executives of the Bank of Oswego have been indicted by a federal grand jury on charges that they orchestrated a five-year conspiracy to conceal the bank’s shaky financial condition from regulators.

The Oregonian reports (http://is.gd/fT6LT8 ) that former president and CEO Dan Heine and former chief financial officer Diana Yates are accused of authorizing a series of complex, secret deals to hide bad loans in the bank’s portfolio from their own board of directors as well as federal regulators.

Both were charged with one count of conspiracy to commit bank fraud and 26 counts of making false bank entries.

The two former executives were arrested Friday and were held in custody until their afternoon arraignments. Both pleaded not guilty.

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

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