FDIC Files Suit Blaming Former WaMu Executives For High Risk Mortgage Loan Failures.

On March 16, 2011, the FDIC filed a civil lawsuit against former executives of Washington Mutual Bank alleging, among other things, that they engaged in fraud and were grossly negligent in allowing high risk mortgage loans.  To read a copy of the complaint the FDIC filed in Seattle federal court, click here FDIC v. Killinger (Complaint Mar 16 2011).

Named as defendants in the civil suit are former WaMu CEO Kerry Killinger, ex-COO Stephen Rotella and David Schneider, who led WaMu’s home loan division.   The wives of Killinger and Rotella also were named as defendants. 

The law firm of DeBlasio Law Group, LLC has significant experience in civil and business litigation cases involving fraud.  Visit our website for more information at www.DeBlasioLawGroup.com.