Looks like I'll be knocking some caskets over...
Two former officers of Quincy-based Mercantile Bancorp Inc. have agreed
to pay penalties of $100,000 each to settle an investigation by the
Securities and Exchange Commission.
https://www.sec.gov/litigation/litreleases/2013/lr22817.htm
https://www.sec.gov/litigation/complaints/2013/comp22817.pdf
The news comes just a day after the Securities and Exchange Commission permanently barred the former heads of Mercantile Bancorp from serving as directors of publicly traded companies.
The ban is part of a resolution of a complaint filed by the SEC against former chief executive officer Ted Awerkamp and former chief financial officer Michael McGrath.
Each agreed to settle the complaint that accused them of fraud. Both agreed to pay a $100,000 fine in addition to the ban.
The SEC's lawsuit filed in the U.S. District Court Central District of Illinois says that Awerkamp and McGrath reported that the bank earned $1.8 million in net income for three quarters of 2010 when it actually lost $3.5 million.
I also have many documents of payments made to shitskamp that were rubber stamped by the corrupt trust department.
Their lawyer was a board member at mercantile.
Now If you look at Mercantiles history, you'll know why the trust officers moved to first bankers TRUST in QUINCY, IL
History never fades.
