32) (By 1898, thirty-two women's unions were affiliated with the BCCU
, which in 1900 included 1,300 women students.
When the original loans to the three individuals approached maturity, the firm prepared the legal documentation for sham sales of portions of the real estate to new straw owners, and thereby obtained further loan proceeds from the BCCU and Digital on the same properties.
When federal examiners, auditors, and officials of Digital and BCCU requested documentation showing the true identity of the borrowers and property owners, Cohen prepared additional false documents purporting to show that the individuals used as straws for obtaining loans were the true owners.
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From 1985 until BCCU was declared insolvent and placed under conservatorship by the National Credit Union Administration ("NCUA") in March of 1991, Mangone and his co-conspirators created various real estate trusts with names of straw borrowers in order to obtain multi-million dollar loans for purported real estate developments on Cape Cod and in Rhode Island and Maine.
Stern also noted that his office filed charges of conspiracy and fraud against two additional former officials of BCCU on Aug.
Pictured from left are Ban Reagan, associate dean at UNHM; Sally Ward, UNHM interim dean; Annie Donahue, division chair, library director, associate professor at UNHM; and Nathan Sailer, vice president of sales and marketing at BCCU