Sterling Bancorp Inc. To Plead Guilty to $69M Securities Fraud

National Mortgage Professional, Mar. 16, 2023–Keith Griffin
Sterling Bancorp, based in Michigan, has agreed to plead guilty to securities fraud for filing false securities statements relating to its 2017 initial public offering (IPO) and its 2018 and 2019 annual filings. Sterling will pay more than $27.2 million in restitution to its non-insider victim-shareholders.