http://www.marketwatch.com/story/bank-stocks-look-cheap-for-a-reason-2011-05-02
With the approx. $9 million Mark Sapperstein made in the Pinnacle Tower IPO scheme he bought controlling interest in a Maryland bank,
Within maybe 8 months Mark Sapperstein and certain of his associates were forced by the FDIC to sign a cease & desist order over the mismanagement of this bank, but were still allowed to operate it. Eventually Sapperstein sold his interest in this bank and the bank was later sold to another banking group I think from Pennsylvania."
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