Banks Can't Duck Foreclosure Claim Rooted In Fraud Scheme

Law360 (April 8, 2021, 10:46 PM EDT) -- An Illinois state court judge refused Thursday to let two banks dodge claims a former bank CEO's trust launched to take lien priority and foreclose a mortgage it lent to a former money manager who's serving 16 years after defrauding the trust for a decade.

Cook County Associate Judge David Simko said during a remote hearing that it's too early in litigation to let a Deutsche Bank mortgage unit or Champaign, Illinois-based Busey Bank duck the second amended foreclosure claim that former GreatBanc Inc. CEO Roger L. Weston's revocable trust filed in a suit it launched after Weston learned its former...

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