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Bankers Stung by Forged Kerr-McGee Bonds
A Federal Reserve Bank of St. Louis official said at least two local banks took on about 270000 in forged Kerr-McGee securities as loans during routine examinations. The forgeries involved legitimate securities from the Oklahoma oil firm led by Senator Robert Kerr. No arrests were noted and insured banks would not absorb the losses.
MENTIONED IN THIS ARTICLE
ST. Louis
Federal Reserve Bank of
William E. Peterson
Federal Reserve Bank
Peterson
Kerr-McGee Industries
Oklahoma
Robert S. Kerr
D-Okla