Michigan Banker Shot Dead "Execution Style"

It's a terrible story of keystone cops, bankers, suspicion and shock... it begins with two phone calls. A maintence worker calling in to the police because of a ransacked office, then one from a duck hunter certain he has found a body in the water. The calls were separated by about a moon.

The first was in September, with the duck hunter following up a few days later.


David Widlak, president and CEO of Mt. Clemens-based Community Central Bank Corp., remained missing this evening, with the Macomb County Sheriff's Department continuing to ask for information about his whereabouts.

Then the banker's body is found.

[url]http://www.mlive.com/news/detroit/index.ssf/2010/10/police_found_body_belongs_to_m.html" target="_blank" class="postlink" rel="nofollow">www.crainsdetroit.com...[/ur l]

David Widlak, president and CEO of Mt. Clemens-based Community Central Bank Corp., remained missing this evening, with the Macomb County Sheriff's Department continuing to ask for information about his whereabouts.

Then the banker's body is found.

[url]http://www.mlive.com/news/detroit/index.ssf/2010/10/police_found_body_belongs_to_m.html

No cause of death was determined. An autopsy is planned Monday.

Now we enter the world of MIchigan's keystone cops bungling about on shoestring budgets in an economic environment devastated in this Depression 2.0 version. Dr. Daniel Spitz who performed the initial autopsy missed something... something impressive: a bullet wound to the back of the head.

Utilizing excuses of inferior (cheap) X-Ray technology, Dr. Spitz was one-upped by the 2nd opinion of Oakland County Medical Examiner L.J. Dragovic. Dragovic described the gunshot was done, "execution style."

The story here diverges into questions of technological aptitude, personal ability, but the question remains: Suicide or Slaying?

www.macombdaily.com...
www.detnews.com...
www.themorningsun.com...
www.crainsdetroit.com...#

Now, as you can imagine, there is much more behind the headlines.

Does this CEO's death have anything to do with Unintended Consequences from the general nature of banking in Detroit where so many have been hit so hard by the economic downturn? www.freerepublic.com...

What happened at the Share Holder meeting before he went missing? Did the shareholder vote to approve a 666% in company shares have anything to do with it? Why would a financial institution turn to stock issuance if they weren't already in deep financial trouble (unlikely that a push for more capital would be for takeover/expansions in the Detriot market considering current environs)?
www.snl.com...

While CCBD has a superb rate of return on equity, they were terribly under capitalized (IMHO).
www.snl.com...

Maybe the poor fella believed that with the poor capitalization, the burgeoning share increase and the chair purchasing more shares than he www2.snl.com... www2.snl.com... he was going to miss out on some great financial opportunity when the FDIC comes knocking...

Who knows? Anyone fancy with banking that can decode all this junk?

If not, my first guess is on some general Unintended Consequences of the economic mood.