Wells Fargo, MIC Can't Duck Veterans Loan Fraud Suit

Law360, New York (November 19, 2012, 8:26 PM EST) -- A Georgia federal judge on Monday refused to let Wells Fargo Bank NA and Mortgage Investors Corp. escape whistleblower claims that they defrauded military veterans and taxpayers of hundreds of millions of dollars through illegal fees in government-backed loans, finding most claims specific enough.

Both Wells Fargo and MIC argued that mortgage brokers Victor Bibby and Brian Donnelly had failed to plead with sufficient particularity their False Claims Act allegations that the companies engaged in a “brazen scheme” with other institutions to overcharge veterans who refinanced...
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