By 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 ( ) 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.


Information from: The Oregonian,

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