Former IndyMac CEO Escapes Some SEC Charges

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Former IndyMac CEO Escapes Some SEC Charges

Former IndyMac CEO Escapes Some SEC Charges

Why aren’t we surprised?

American Banker-

A federal judge dismissed portions of the Securities and Exchange Commission’s case against two former executives of imploded bank Indymac on Monday.

U.S. District Judge Manuel Real of California’s Sourthern District dismissed SEC civil charges stemming from five securities filings against former Chief Executive Officer Michael Perry and Chief Financial Officer A. Scott Keys.

The two men presided over the subprime mortgage giant’s now-notorious collapse. The SEC alleged that the men repeatedly misled investors about IndyMac’s need to raise new capital and eliminate dividends, among other things.

[AMERCIAN BANKER]

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One Response to “Former IndyMac CEO Escapes Some SEC Charges”

  1. keepon says:

    US District Judge Manuel Real of California signs on to the RICO in this decision. He ‘drives the getaway car’ for common criminals. Take away his robes immediately for this treasonous demonstration of the true meaning of “Inside Job!” It’s no wonder that California has fallen into the abyss, by failure of man, not by earthquake.

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