FBI Reportedly Probing IndyMac For Possible Fraud

Law360, New York (July 17, 2008, 12:00 AM EDT) -- The FBI has reportedly launched a probe into IndyMac Bank, the mortgage lender seized by federal regulators on July 11, for possible fraud.

The failed bank is among 21 corporate targets in the mortgage industry that the FBI is investigating in the wake of the subprime mortgage market crisis, Reuters reported based on information from unnamed law enforcement officials.

It is unclear how long the IndyMac probe had been under way.

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