$12M Deal Frees Ex-IndyMac CEO From FDIC Mortgage Suit

Law360, New York (December 14, 2012, 8:01 PM EST) -- Former IndyMac Bancorp Inc. CEO Michael Perry on Friday agreed to a $12 million settlement to resolve a $600 million suit by the Federal Deposit Insurance Corp. over his alleged role in the crisis leading to the collapse of the mortgage lender.

Perry will pay $1 million of that settlement amount out of his personal funds, while the remaining $11 million will be paid by insurers who issued IndyMac’s directors and officers insurance policies, according to a copy of the settlement filed in California federal court....
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