Complaints against Chicago's last Black bank and federal concerns over its management and record-keeping
The order required the bank to come up with a plan to get out of financial trouble and to hire competent management.Dr. Nduom and wife in front of ISF Bank in 2016Dr. Nduom was a wealthy West African who owned many businesses, including a large bank in Ghana. He agreed to take control of ISF and pump $9 million into it.
But Stewart found out that GN Bank had sold the mortgage to Yorke Properties, LLC. Dr. Nduom is Chairman of GN Bank. He's also listed on state LLC records as a manager of Yorke Properties. Back to the fear of foreclosure. Stewart kept all of those handwritten receipts and cancelled checks totaling $60,000 to prove to GN Bank that the loan was not in default.
"I'm afraid he's going to sell these mortgages to Yorke Properties -- not notify me," Jansen said."I don't want to be sold to Yorke, because Yorke don't send statements either. They just come in and foreclose."
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