Former IndyMac chief Michael Perry pays $80,000 to settle SEC case

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Former IndyMac chief Michael Perry pays $80,000 to settle SEC case

Former IndyMac chief Michael Perry pays $80,000 to settle SEC case

Reuters-

The former chief executive of failed mortgage lender IndyMac Bancorp has agreed to pay $80,000 to resolve the remaining parts of a U.S. securities fraud case against him, after a federal court earlier this year had dismissed much of the case.

The settlement between Michael Perry and the Securities and Exchange Commission ends a long-running case that hinged on whether or not IndyMac’s top executives disclosed crucial information about the bank’s financial health at the onset of the 2007-2009 financial crisis.

The settlement, which was dated September 27 and announced by the SEC and Perry’s lawyer on Monday, resolves one claim about whether details about a capital contribution should have been disclosed in May 2008.

[REUTERS]

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One Response to “Former IndyMac chief Michael Perry pays $80,000 to settle SEC case”

  1. Charles Reed says:

    IndyMac is why Washington Mutual Bank(WaMu)loans that Wells Fargo Bank is still servicing in FHA & VA loan, all those borrowers are being screwed. IndyMac cost the FDIC big $12.8 billions and the remaining amount of monies the FDIC had would have wipe out by the WaMu collapse and is why the thing is still a mess with JPMorgan and nobody even the borrowers know that Wells Fargo Bank is not their lender but only their servicer.

    Sheila Blair left 1.3 million government insured customers hanging until she left, because she did not want to answer to Timothy Geithner because the FDIC would have had to get monies from the US Treasury to handle all the rest of the failing banks.

    You know BS by the smell!

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