Sentence examples for unauthorized loan from inspiring English sources

In July, the founder and chief executive, Glenn Welstad, was forced to resign after the board accused him of taking an unauthorized loan of $3.5 million to cover a margin call on his Labor Ready stock.

The Icelandic bank had acted as an agent for Eksportfinans, administering loans to several companies: however Eksportfinans alleges that, when the loans were paid off early by borrowers, Glitnir kept the cash and merely continued with the regular payments to Eksportfinans, effectively taking an unauthorized loan itself.

Prosecutors also charged that Mr. Giacchetto made hundreds of thousands of dollars in unauthorized loans to friends.

The bureau also said the 10 people accused in the case had forged board resolutions, obtained unauthorized loans and created more fake customers and generated more fake invoices than previously discovered.

Swartz and former Tyco Chairman and Chief Executive L. Dennis Kozlowski L. Dennis Kozlowski are accused of looting the megaconglomerate of $600 million, via unauthorized loans and bonuses and illicit stock sales.

He sold annuities and life, auto and home insurance across kitchen tables to farmers around Veedersburg, Ind. Between 1992 and 2005 Knecht embezzled premium checks and took out unauthorized loans from clients' life policies.

He has had to file for bankruptcy, and he filed a $90 million lawsuit against his former manager (and former brother-in-law) Frank Weber for losing tens of millions of dollars as a result of fraud, risky investments and unauthorized loans.

In September 2002, the board issued a lengthy report that accused Kozlowski, Swartz, Walsh and other executives of taking millions in unauthorized bonuses and unauthorized loans, and with other misappropriation of company money for such things as buying homes owned by the executives.

A former councilman and a city manager also were found guilty of misappropriating public funds and making unauthorized loans while in office.

It cites a $7.5 million unauthorized corporate loan guarantee for a senior officer of the company, payment of more than $1.5 million in bonuses in the 1998 fiscal year to the executives and the alteration and back-dating of long-term incentive plan documents.

Mr. Kozlowski was later convicted of taking millions of dollars of unauthorized bonuses and loans from Tyco, and the paintings are being sold under court order.