BANKS
From Times Staff and Wire Reports
Heritage Banker Arrested on Fraud: An executive at the bank whose failure triggered Rhode Island’s banking crisis was arrested on a fraud charge. Peter J. Iannuccilli, vice president and a director of the defunct Heritage Loan & Investment Bank, was arrested at his Cranston, R.I., home and led into the attorney general’s office in handcuffs. Prosecutors charge in an affidavit that Iannuccilli doctored the small bank’s computer records to cover more than $1 million in fraudulent loans.
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