FDIC Notches $169M Judgment Against 3 Ex-IndyMac Execs

Law360, New York (December 10, 2012, 5:00 PM EST) -- The Federal Deposit Insurance Corp. scored a big win Friday when a California federal jury handed a $169 million judgment against three former IndyMac Bancorp Inc. executives in a suit accusing them of negligently approving dozens of bad commercial loans.

The verdict — against former IndyMac Homebuilder Division CEO Scott Van Dellen, Chief Lending Officer Richard Koon and Chief Credit Officer Kenneth Shellem — came in a trial that began Nov. 6, and awarded the FDIC all the damages it had sought. The awards against Koon...
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