FDIC Sanctions Flatirons Bank Ex-Chairman Yost

BOULDER, Colo. (AP) -- Federal regulators say a former private-fund manager and chairman of Flatirons Bank in Boulder who was convicted of defrauding his own investment fund is barred from working for another financial institution.

Mark Yost pleaded guilty in February to making false statements to banks, wire fraud, bank fraud and money laundering. He was sentenced this spring to six years and six months in prison and was ordered to pay $10.8 million to his victims.

The Federal Deposit Insurance Corp. disclosed its order Friday barring Yost from being involved in banking without its prior approval.

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