The Associated Press has learned that now-defunct IndyMac Bancorp Inc. is under investigation for possible fraud in connection with home loans made to risky borrowers.
It was not immediately clear how long the FBI’s probe of the bank has been ongoing. The investigation is focused on the company — which was taken over last Friday by the FDIC (reported HERE on YWN) — and not individuals who ran it, according to a law enforcement official who was not authorized to speak publicly about the investigation.
IndyMac Bank’s assets were seized by federal regulators after the mortgage lender succumbed to the pressures of tighter credit, tumbling home prices and rising foreclosures.
(Source: WNBC / CBS2 HD / AP)
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2 Responses
Is there any way YWN readers can help the FBI in this matter?
If the FBI wants to do some investigating they should start with New York’s own Senator Chuck Schumer. Lets not forget he was the one to send a letter to the bank – thru the press! HE is the one that caused the run on the bank when the Wall Street Journal printed the thing.
GET CHUCKY!!