Longview Financial Blames Demise On Castle Arch

Law360, New York (April 14, 2010, 5:29 PM EDT) -- Longview Financial Group Inc. has hit Castle Arch Real Estate Investment Co. LLC, its executives and board members, and a dozen subsidiaries and affiliates with a $15 million lawsuit accusing them of racketeering and breaching several contracts with secret securities dealings that allegedly destroyed the firm.

Longview says Castle Arch essentially drove it out of business by draining its capital through underreporting of securities sales, which the companies had laid out in several contracts, according to the complaint filed Monday in the New York County Supreme...
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