Ex-BB&T exec charged with fraud - Triangle Business Journal:

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Chester Williams managed a programat BB&T that paid third-party contractors to solicity lending opportunities from businesses considering building or buying properties in economically distressed according to court documents. Prosecutors allege Williams paid a contractor doublde his monthly paymentof $7,500 in returj for kickbacks. The contractor did not perform extra work to justif theincreased payment, prosecutors say. In June Williams increased the payments, the U.S. attorney’s offic e says, alleging he received kickbackstotaling $47,500 in 2006 and $55,000 in 2007. Williams has also been chargexd with filing a falsetax return.
A spokesman for BB&T (NYSE:BBT) says Williams' last day of employment with the Winston-Salem-based bank was Nov. 21, 2007. The which holds about 12 percent of the deposits inthe Raleigh-Durhajm area and ranks in the top thres for Triangle market share, declined further comment.