BANKING

Freeze on BCCI Figure’s Assets Extended: U.S. District Judge David W. Williams of Los Angeles extended a freeze on the assets of a Bank of Credit & Commerce International figure who helped BCCI take over Independence Bank of Encino. Kemal Shoaib was once chairman of Independence, which was purchased by a BCCI front man in 1985. Federal investigators allege that Shoaib, who is believed living in Pakistan, defrauded the bank on real estate deals. The Federal Reserve Board, which is seeking $20 million in civil penalties against him, requested the freeze on his assets, which include more than $100,000 in certificates of deposit.