Protester draws attention
July 1, 2011
Sacramento-resident Mark Larson decided to take the mountain to Mohammed when he picketed U.S. Bank on June 20.
In an interview, Larson said he and others feel defrauded by the branch manager at the St. George office of U.S. Bank. He chose Park City as the place to show his displeasure because it oversees the St. George office.
Larson has not filed a lawsuit against U.S. Bank or the St. George branch manager, but says he will after publicly protesting the bank. Nor has criminal action been taken against the St. George branch manager but Larson said law enforcement is building a case.
Larson points to a suit filed by acquaintances in a Nevada court against a land developer and the St. George branch manager. The suit alleges that a few years ago the branch manager assured investors U.S. Bank held assets for the developer to be used as collateral if he should default on loans from investors of the Genoa Lakes Golf Course in Nevada.
The assets included stocks in healthy, profitable companies. But, the lawsuit alleges, the collateral did not exist. It alleges the branch manager was partner to the fraud and unqualified for his position. Larson said his story is identical.
Because U.S. Bank will not refund his investment, he decided to show his displeasure by picketing the regional headquarters on the corner of Park Avenue and Deer Valley Drive.
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U.S. Bancorp spokeswoman Amy Frantti gave the following statement:
"Our understanding is that Mr. Larson provided a loan to a third party who has not repaid the loan. We have had numerous discussions with Mr. Larson, and while his circumstances are regrettable, we do not believe that he has a valid claim against the bank for his alleged losses."