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 and Shellem were smaller because they approved fewer loans, according to Thomas Long of Nossaman...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!