Banc of California: New Revelations Should Catalyze Immediate Regulatory Intervention
Banc of California (BANC) makes the stunning revelation for the very first time to shareholders that it has been conducting a previously undisclosed ongoing internal investigation related to fraudster Jason Galanis that has been underway for “more than a year”
BANC calls their internal investigation “independent” on their conference call and, more importantly, in an 8-K exhibit filed with the Securities and Exchange Commission.
It was revealed yesterday that the “independent” law firm conducting the investigation has personally represented the company before and is also a client of the bank
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