US Fights Deutsche Bid To Toss Mortgage Fraud Suit

Law360, New York (November 2, 2011, 5:04 PM EDT) -- Deutsche Bank AG can't dodge liability for MortgageIT Inc.'s allegedly reckless approval of mortgages for federal insurance, because it knew about those practices before buying the lender and later participated in the misconduct, the U.S. told a New York federal court Tuesday.

Deutsche Bank in September asked the court to toss the government's amended civil lawsuit against it under the False Claims Act, but the Department of Justice accused the Germany-based bank of asserting “a host of baseless arguments in a kitchen-sink effort to make either...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.