US Can Add Wells Fargo Exec To Insurance Fraud Suit

Law360, Los Angeles (December 12, 2013, 9:34 PM EST) -- A New York federal judge on Thursday allowed the federal government to add a Wells Fargo & Co. executive as a defendant in its lawsuit alleging the bank had defrauded a federal mortgage insurance program out of hundreds of millions of dollars by knowingly submitting mortgages with a high risk of default.

In a one-page order, U.S. District Judge Jesse M. Furman granted the government's motion to amend its complaint and add Wells Fargo Vice President Kurt Lofrano as a defendant, for "substantially for the reasons"...
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