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Report Fraud, Waste and Abuse
Date Published
April 30, 2015
News Type
Press Release
Link to Original
USAO Eastern District of New York

Earlier today, Poppi Metaxas, the former President and Chief Executive Officer (CEO) of Gateway Bank, FSB (Gateway) pleaded guilty to conspiracy to commit bank fraud for her role in defrauding the bank of more than $1.8 million in the aftermath of the financial crisis.

The guilty plea was announced by Kelly T. Currie, Acting United States Attorney for the Eastern District of New York; Diego Rodriguez, Assistant Director-in-Charge, Federal Bureau of Investigation, New York Field Office (FBI); Christy Romero, Special Inspector General for the Troubled Asset Relief Program (SIGTARP); and Christina Scaringi, Special Agent-in-Charge, Northeast Region, U.S. Department of Housing and Urban Development, Office of Inspector General (HUD-OIG).

“As Gateway Bank struggled to survive under the burden of its accumulated toxic assets, its CEO Poppi Metaxas turned to sham transactions to deceive regulators and convince them that the bank had rid itself of its bad loans and underwater real estate holdings. Today’s guilty plea puts bank officers on notice that they will be brought to justice if they resort to lies and deceit to fix mistakes of the past,” stated Acting United States Attorney Currie. Mr. Currie thanked the FBI, SIGTARP, and HUD-OIG for their hard work and dedication through the course of this five-year investigation and prosecution...