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Gold Banc to pay $16 million in FCA whistle-blower case

Gold Banc, a Kansas banking company, has agreed to pay $16 million to settle a suit alleging it charged excessive interest rates and fees on federally guaranteed agricultural loans.

The case was brought by whistleblower Roger Ediger, a former farmer and Gold Banc loan customer. Gold Banc was accused of violating the False Claims Act by charging rates and fees on loans subject to Farm Service Agency programs that were higher than those charged typical farmers.

Reuters reported on the settlement on November 19, 2004.

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