FDIC Sues Ga. Bank Execs Over $70M In Bad Loans

Law360, New York (January 19, 2011, 1:36 PM EST) -- The Federal Deposit Insurance Corp. has launched a lawsuit against eight directors of defunct Integrity Bank, including a Georgia state senator, in a bid to recover $70 million in bad loans made by the failed institution.

The lawsuit was filed Friday in the U.S. District Court for the Northern District of Georgia. It comes shortly after the FDIC announced earlier this month that it had authorized lawsuits against more than 100 directors and officers of failed banks to claw back about $2.5 billion lost to bad...
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