Hotel Exec Must Face Suit Over $850K First Farmers Payment

Law360, New York (January 10, 2017, 7:53 PM EST) -- An Illinois federal judge on Tuesday refused to dismiss an offshoot of the $179 million First Farmers Financial fraud, in which the receiver managing the scam's aftermath accused a hospitality company executive of collecting an undeserved $850,000 from the loan company’s owner.

U.S. District Judge Amy J. St. Eve refused Shamir Patel’s attempt to escape the suit, finding that even though he lives in Florida and has no real connections to Illinois, federal receivership laws give the Illinois court jurisdiction over the case. Judge St. Eve...
To view the full article, register now.




Case Information

Case Title

In Re: First Farmers Financial Litigation

Case Number



Illinois Northern

Nature of Suit

370(Other Fraud)


Honorable Amy J. St. Eve

Date Filed

September 29, 2014

Law Firms

Government Agencies

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.