Bank pays $1.75M over treasurer likened to Bernie Madoff

A Beverly Hills-based bank has paid $1.75 million to settle allegations that a bank it acquired facilitated embezzlement by failing to monitor transactions by a woman whom a prosecutor likened to the Bernie Madoff of campaign treasurers. Former Democratic campaign treasurer Kinde Durkee pleaded guilty to five counts of mail fraud in 2012 and was sentenced to more than eight years in federal prison for defrauding high-profile clients, including U.S. Sen. Dianne Feinstein, in a case that a judge said tampered with the electoral process.