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Pasadena-Based East West Bancorp Takes $7M Charge Related to Solar Ponzi Scheme

East West Bancorp., parent of East West Bank, the largest independent bank headquartered in Southern California, disclosed in a regulatory filing May 8 that it has written off some tax credit investments related to exposure to a potential solar Ponzi scheme identified by the FBI back in February.

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Pasadena-Based East West Bancorp Takes $54 Million Hit Tied to Solar Ponzi Scheme

East West Bancorp., parent of East West Bank, the largest independent bank headquartered in Southern California, disclosed in a regulatory filing Wednesday that it has a $53.9 million exposure related to a potential Ponzi scheme identified by the FBI.

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