Banking Relationship between CEO and Bank Illegal?

His bank had to approve him & his co. for a loan to get that space, and who knows better his work history & salary history than that very bank he works as pres. for?

That bank then decided to lease that space at his terms, which apparently, are "triple" his net.

Nothing illegal or immoral happening so far....unless...

The stockholders of this Bancorp believe that the bank ceo's, of which he is one, are no longer operating in their best interests(which is still not illegal or immoral). The bank leasing space from him at triple net is clearly being fully disclosed because you yourself have provided us with this knowledge so nothing illegal appears to be going on so far.

You and others might think that this CEO/Pres. is doing something possibly illegal/immoral whereas others, namely, the stockholders, might see him as doing a fantastic job as Bancorp Pres since he's obviously been able to have this bank expand it's offices through affiliates during, of all things. a depression. Stockholders shouldn't care who owns the space they move into, only that whatever bus. they've bought stock in is returning them a suitable profit legally.

It could quite just possibly be a win win win situation all around for the Bancorp/Pres' leasing co/Stockholders.

If the stockholders feel that triple the net is not a "suitable and customary" amount for that area then it needs to be brought to the boards attention for justification. I should note here that his leasing company is paying the taxes on that property as long as they own it and though it may be "feast" now it'll be famine latter when those taxes increase exponentially in order to get that state where that building is out of it's huge state deficit due to forced retirement pensions and UI benefits thanks to this depression.

The only thing that would determine if this bank is not operating within the law regarding full disclosure would be an independent audit.

Apparently, this corporation doesn't have any laws written in into it's bylaws and guidelines that prevents them from doing business with it's employees....or maybe they do, I don't know....get the Bancorps. EIN # and look into it. That information is usually posted right on line. Find that info on the state website of whatever state that Bancorps. corp. offices are located in.

If not it could just be win win win all around like I said.

The gov't doesn't care who owns what. They just care that they get a piece of every transaction. The Bancorp. pres. is making tons of money off of this lease deal, and he'll pay tons of personal taxes (albeit not as much as he should as things stand with the present govt') for that privilege when he does his personal taxes next year.