FDIC Notches $169M Judgment Against 3 Ex-IndyMac Execs

Law360, New York (December 10, 2012, 5:00 PM EST) -- The Federal Deposit Insurance Corp. scored a big win Friday when a California federal jury handed a $169 million judgment against three former IndyMac Bancorp Inc. executives in a suit accusing them of negligently approving dozens of bad commercial loans.

The verdict — against former IndyMac Homebuilder Division CEO Scott Van Dellen, Chief Lending Officer Richard Koon and Chief Credit Officer Kenneth Shellem — came in a trial that began Nov. 6, and awarded the FDIC all the damages it had sought. The awards against Koon...
To view the full article, register now.




Case Information

Case Title

Federal Deposit Insurance Corporation v. Scott Van Dellen et al

Case Number



California Central

Nature of Suit

Banks and Banking


Dale S. Fischer

Date Filed

July 2, 2010

Law Firms

Government Agencies

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.