038: Barton Schack, Regent Medical Properties, Bank Fraud

Situation

The former chief investment officer of a northern New Jersey regional medical practice pled guilty to one count of conspiracy to commit bank fraud. The defendant and the business’s former CEO conspired to defraud mortgage lenders of mortgage loans on 13 rental properties in three states. We see here how two executives’ greed and criminal misconduct can affect the business and the lives of their employees.