LibertyPointe Bank First NYC Bank To Fail In 11 Years

05/12/2010 05:12 am ET | Updated May 25, 2011

Real estate developer Shaya Boymelgreen's Web site proclaims his finance business is "built on a solid foundation." He might wish to revisit that statement after federal regulators seized LibertyPointe Bank, an institution that he helped start and served as chairman.

LibertyPointe late Thursday became the first New York City bank to fail in 11 years. For Mr. Boymelgreen, it was just the latest turn of the screw.

Read more on Crain's New York Business

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