An attorney with the Federal Deposit Insurance Corp. told a jury in federal court in Atlanta Wednesday that eight former corporate officers and directors of a defunct Atlanta bank “put their desire to quickly grow that bank ahead of their duty to the depositors who trusted them with their money.”
The civil trial, which opened Wednesday, is the culmination of efforts by the FDIC to recoup $17 million from the defendants, some of metro Atlanta’s most prominent and successful businessmen, to compensate for losses the agency—and by extension the nation’s taxpayers—assumed when the Buckhead Community Bank collapsed in 2009. The bank was one of more than 100 that failed in Georgia during the Great Recession.
