Saturday, June 22, 2002

Former president of company indicted

Man allegedly diverted company's checks

By James McNair,
The Cincinnati Enquirer

        A former company president has been indicted, accused of cashing company checks at Crestview Hills-based Peoples Bank of Northern Kentucky.

        The indictment was handed down against Anthony R. Davis, former president of Best Solutions Environmental of Cincinnati, by a federal grand jury for the Southern District of Ohio. It accuses Mr. Davis of scheming to defraud his ex-employer.

        According to the indictment, Mr. Davis received $77,105 in cash from 38 checks that were written to Best Solutions and endorsed “For Deposit Only Best Solutions Environmental Inc.”

        The acts allegedly occurred from May 2000 through February 2001. That time frame overlaps the period during which a group of Erpenbeck Co. home buyers claim Erpenbeck representatives diverted home-purchase proceeds into Erpenbeck accounts at Peoples Bank.

        The home buyers, represented in a class-action lawsuit filed by Cincinnati lawyer Stan Chesley, allege that Peoples committed fraud and was negligent in allowing Erpenbeck employees to deposit checks made out to at least eight different banks. The practice dated to January 2000.

        Peoples has denied wrongdoing. Peoples' lawyer could not be reached for comment late Friday.

        Mr. Chesley said the Erpenbeck and Davis cases are strikingly similar.

        “It unfortunately suggests a pattern of neglect and falling way below the standard of banking practices,” he said.


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