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FINANCIAL | Retail Banking
bankasiana.com

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Stage

Acquired | Acquired

Valuation

$0000 

About BankAsiana

BankAsiana is a New Jersey state-chartered, FDIC-insured commercial bank with a focus on the Korean-American community and other ethnic minorities in the New York/New Jersey area. Headquartered in Palisades Park, New Jersey, BankAsiana operates three branch offices, two in New Jersey, and one in New York.In June 2013, BankAsiana was acquired by Wilshire Bancorp. The valuation of BankAsiana was $32.5 million. Other terms of the deal were not released.

BankAsiana Headquarter Location

7 Broad Avenue Third Floor

Palisades Park, New Jersey, 07650,

United States

201-313-5400

Latest BankAsiana News

Former Fort Lee bank executive embezzled more than $1 million, U.S. Attorney says

Sep 24, 2014

View/Post Comments U.S. Attorney Paul J. Fishman speaks at a press conference. (File Photo)  NEWARK — A former executive at a Fort Lee bank accused of stealing more than $1 million from her employer surrendered to the FBI on Tuesday, U.S. Attorney Paul J. Fishman said. Miye "Karen" Chon, 34, of Englewood Cliffs, allegedly stole more than $1 million from customer certificate of deposit accounts at BankAsiana by transferring money into the bank's vault cash account and physically removing the cash from the vault, documents said. Chon worked at BankAsiana until its acquisition by Wilshire Bank in October 2013. As an operations officer and later an assistant vice president, Chon had access to to customer accounts, as well as the bank's internal account records, computer system and vault, documents said. She avoided detection by ensuring that funds were transferred back into the CD accounts before they matured, documents said. Chon embezzled money dozens of times, taking tens of thousands of dollars at a time, up to as much as $100,000, documents said. Wilshire claims the scheme cost more than $1.4 million. Wilshire investigated after a customer found discrepancies in tax forms and account records. The bank traced the unauthorized transfers to Chon, documents said. Chon faces up to 30 years in prison and a possible $1 million fine, plus restitution. Wilshire Bank filed a lawsuit in March accusing Chon and Suk Joon Ryu, former chief operating officer of BankAsiana, of taking part in the scheme. Both have denied the accusations, the Record reported. Myles Ma may be reached at mma@njadvancemedia.com . Follow him on Twitter @MylesMaNJ . Find NJ.com on Facebook .

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