Industry News

Indymac claims $20M in loans obtained through inflated appraisals

Lawsuit alleges straw buyers were used in scheme
Published on Aug 21, 2006

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Indymac Bank claims 41 Ohio residents agreed to be straw buyers of overvalued properties in Florida as part of a $20 million scheme to defraud the bank. California-based Indymac alleges in a lawsuit that VP Equity LLC submitted a series ...