gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f6fac886e4683cdd
Response Measures
None
Description
Failure followed alleged large-scale embezzlement by bank officials; receiver later active in suits.
Events (2)
1.September 20, 1927Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended after discovery of large alleged embezzlement by officials (charges of roughly $400,000).
Newspaper Excerpt
the alleged irregularities had on the day before the bank suspended
Source
newspapers
2.September 21, 1927Receivership
Newspaper Excerpt
A. detailed report is expected he examiner the named by Mr. Amos recently can take charge. The bank is the one for which Gov. Martin court investigation. The governor was advised that Circuit Judge W. W Wright was calling special term for next Monday for probe of the institution's affairs; E. H. Ashcraft, receiver for the defunct Seminole County Bank (later referenced in 1928 articles).
CHARGE $400,000 LOSS TO BANKERS
Sanford Officials Under Arrest Following Bank Failure
Fla., Sept. 21 (AP) Comptroller E Amos had before him today only a tentative report from a bank aminer investigating the affairs of the defunct Seminole County bank, of Sanford, and could add little to advices emanating from Sanford yesterday that two of the bank's officials had been arrested and charged with the embezzlement of $400,000 of the institution's funds. The report of the examiner was that the arrests had been made, and that the only information he had was that the alleged irregularities had on the day before the bank suspended time The enclosed a clipping from Sanford paper to the ef fect that Forrest Lake, of the bank chairman the State Road Department and mayor of Sanford. had been charged in with zling $394,772 and R. Key, vice president and $40.992.24 Lake $36,000 bond and Key, the paper stated Mr. Amos today that re ports of alleged irregularities had been reaching the that nothing had been received Mr. Lake he said. called upon him ed to deed the bank property worth several hundred thousand dollars. and the comptroller had A. detailed report is expected he examiner the named by Mr. Amos recently can take charge. The bank is the one for which Gov. Martin court investigation. The governor was advised that Circuit Judge W. W Wright was calling special term for next Monday for probe of the institution's affairs
2.October 15, 1927The DispatchMoline, IL
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mandeered two automobiles. two bicycles, two tricycles and two wagons when found by police driving away with a third automobile.
Coastguard patrol fires on rum runners take after beaching craft off Norfolk Va., crew of four captured: whisky and alcohol seized.
Ernest Amos. state comptroller. in dieted for malpractice in office by special grand jury at Sandford. Fla.. investigating close of Seminole country bank.
3.January 29, 1928The Tampa TribuneTampa, FL
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SANFORD IS SUED FOR TIME WARRANT IN COUNTY ACTION
SANFORD, Jan. 28. (|Tribune News Service city of Sanford has been made defendant in a suit for $75,000 by the filing of preliminary papers by attorneys of the county commission to represent Tax Collector John D. Jinkins and also by counsel for E. H. Ashecraft, receiver for the County Bank. Basis for the action is city time warrant for $51,500 held by the tax collector as security for a deposit of $15,788 in the Seminole County Bank. After failure of the bank, demand was made upon the city for payment of the time The city's position is said to be based contention that the warrant in question was unauthorized. The county and the bank receiver are expected to take the posttion that the a good and valid claim for the reason that the city received full value for the paper.
4.June 9, 1928The Orlando SentinelOrlando, FL
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PLEA TO STOP BOND VALIDATION
SANFORD, June petition intervention, seeking validation of $608,000 prevent worth city of Sanford refunding bonds, filed circuit court here today Asheraft, ceiver the defunct Seminole County bank. The receiver's tion prompted, he said, failure the city pay him receiver more $700,000. City officials tonight said action probably prevent the sale bonds, thereby resulting city's failure meet bond ligations due July
5.June 9, 1928The Tampa TribuneTampa, FL
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Bank Receiver Acts To Stay Validation Of Sanford's Bonds
SANFORD, June petition of intervention. seeking to prevent validation of $608,000 worth of city of Sanford refunding bonds was filed in circuit court here today by E. H. Ashcraft, receiver for the defunct Seminole County Bank. The receiver's action was prompted, he said, by failure of the city to pay to him receiver more than $700,000. City officials tonight said the action probably will prevent the sale of bonds, thereby resulting in the city's failure to meet bond obligations due July 1.
6.June 9, 1928The Miami HeraldMiami, FL
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PETITION IS AGAINST $608,000 BOND ISSUE petition intervention. seeking to validation of $608,000 worth of of Sanford refunding bonds was filed in Circuit court here today by Ashcraft. for defunct Seminole County bank The receiver's action was prompted. he by failure of the city to pay to him receiver more than $700,000. City officials tonight said the action probably prevent the sale of bonds, resulting in the city's failure to meet bond obligations due July
7.June 29, 1928The Tampa TribuneTampa, FL
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Comptroller Orders Bank's Receiver To Withdraw Bond Suit
SANFORD, June 27.-(A.P.)-State comptroller Ernest Amos today wired the Sanford city commission that he had instructed H. Ashcraft, receiver of the defunct Seminole County Bank, to withdraw his suit seeking to prevent validation of $608,000 worth of refunding bonds. Mayor E. F. Householder declared Amos' message "definitely settled the matter" and that immediate steps would be taken toward meeting payments on bonds due July 1 which the refunding issue covers. Several weeks ago the receiver filed a petition of intervention seeking to prevent and sale of the bonds when the commission refused to honor $740,000 in alleged city obligations held by the bank. At a hearing last week Judge Wallace W. Wright denied the petition, and last Monday the receiver filed notice of appeal to the supreme court.
8.September 18, 1929The TribuneScranton, PA
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Florida Bank Receiver Sues Franklin County Man
E. H. Ashcraft, receiver of the Seminola County bank, Sanford, Florida, filed suit in United States court yesterday afternoon against W. H. Wishard, Franklin county, this state. Attorney John McCourt represents the plaintiff. Ashcraft is asking that he be awarded judgment of $39,025, together with interest and attorney's fees. It is alleged that Wishard executed and delivered three promissory notes to the bank, and when they became due payment was not made.
9.November 9, 1929The Tampa TribuneTampa, FL
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Pardon Sought for Key in Bank Case As Lake Is Freed
Nov Requests the farm funds of defunct Seminole County bank Sanford. reaching the governor's Suggestions that the pardon granted the recent outcome Forrest president bank given prison for similar offense. recently freed legal technicalities Key the state farm for about eight months. An effort made pardon for him. but the application Misuse the bank's funds led closing and Comptroller Amos, who charged for its failure. The supreme court Amos ground he could not be held for the suspension.
10.July 30, 1930The Tampa TimesTampa, FL
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FORREST TRIAL SECOND TIME
Sanford Bank Man Loses Out in Supreme Court.
Tallahassee, July state court yesterday affirmed the conviction of Forrest Lake, former president of the defunct Seminole county bank, of Sanford. on charge of aiding and abetting the cashier to make false entries books the bank. Lake three years the on the charge. one handed in the case, following by the court all the cases November and the rehearing the of the 14 Indictments Filed. original indictments were filed against Lake in Semicounty failure the bank. The banker found four separate counts total 14 years in the state prison. The cases were appealed the preme court, which last Novem-
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
