WaMu Cheated Ex-Worker Of $1.3M Severance: Judge

Law360 (January 12, 2011, 7:23 PM EST) -- A federal judge on Wednesday ordered the Federal Deposit Insurance Corp. to pay $1.36 million to the estate of a former Washington Mutual Inc. mortgage director to cover unpaid bonuses and severance pay, chiding the fallen bank for employment agreement violations.

Judge Dee D. Drell of the U.S. District Court for the Western District of Louisiana awarded Billy W. Taylor $1.27 million in additional severance to go along with previously-stipulated bonus and interest amounts of $68,000 and $22,656, respectively.

Taylor worked as a director for a...
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