bank fraud

Developer indicted
12:50 pm
Fri September 14, 2012

Former Kenwood Towne Place CFO indicted

Credit Ann Thompson / WVXU

The chief financial officer of Kenwood Towne Place and its developer, Bear Creek Capital, is being accused of bank fraud.

Tina Schmidt was indicted Thursday in federal court in Cincinnati. The indictment alleges Schmidt and others knowingly took millions in loans from Bank of America to build the now defunct retail and office complex next to Kenwood Towne Center but instead used the money for other projects.

Her attorney could not be reached for comment.

The property was sold to a new developer last month.

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