ICB Real Estate RICO Suit Will Go On: Judge

Law360, New York (August 19, 2009, 2:42 PM EDT) -- A judge has denied an attempt by First American Title & Trust Co. to throw out a Racketeer Influenced and Corrupt Organizations Act complaint from mortgage lender Imperial Capital Bank claiming a fraudulent flip scheme led to the foreclosure of a property for which the bank had provided loans.

In an order issued Monday in the U.S. District Court for the Western District of Oklahoma, Judge Stephen Friot rejected First American's claim that the case should be tossed because ICB failed to identify specific injury or...
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