Litigation
Dec. 11, 2012
IndyMac executives liable for more than $168 million
In the first and largest civil suit against bankers involved in the housing meltdown, a jury has found three former executives of IndyMac Bank FSB's homebuilder division liable for more than $168 million in failed loans.
By Ben Adlin
Daily Journal Staff Writer
LOS ANGELES - In the first and largest civil suit against bankers involved in the housing meltdown, a jury has found three former executives of IndyMac Bank FSB's homebuilder division liable for more than $168 million in failed loans to developers.
The Federal Deposit Insurance Corp. filed civil claims against the officers in 2010, alleging the loans were overly risky given the precarious state of th...
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