Banc of California aware aware of Galanis claims, says board investigating
Banc of California announced it is aware of allegations posted in a financial blog. The company's board of directors has been aware of matters relating to Jason Galanis including certain claims he had made suggesting an affiliation with members of the company, its board, and/or its executive team. The board, acting through its Disinterested Directors, immediately initiated a thorough independent investigation led by Winston & Strawn, and has received regular reports including related to regulatory and governmental communications over the past year. The complaint filed by the Department of Justice against Galanis and others dated May 9, 2016 states that Galanis' claims to be affiliated with COR Capital were fraudulent, the company said.