FDIC trial against IndyMac execs under way

Categorized | STOP FORECLOSURE FRAUD

FDIC trial against IndyMac execs under way

FDIC trial against IndyMac execs under way

HW-

Monday Morning Cup of Coffee takes a look at news crossing HousingWire’s weekend desk.

Things are shaking up as the Federal Deposit Insurance Corp. civil lawsuit against IndyMac gets under way. Three former executives of the Pasadena, Calif.-based housing lender are being charged with negligence in approving 23 ill-advised homebuilder loans.

Scott Van Dellen, Richard Koon and Kenneth Shellem oversaw IndyMac’s homebuilder division. The former executives approved loans that were never repaid by homebuilders or developers, which cost the bank about $170 million.

“They violated their duties to the bank,” said Patrick J. Richard, the lawyer representing the FDIC. “They violated standards of safe and reasonable banking.”

[HOUSING WIRE]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Comments

comments

This post was written by:

- who has written 8684 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Advertise your business on StopForeclosureFraud.com

Archives