07-16-2008, 08:56 PM
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 | Administrator | | Join Date: Dec 2004 Location: The Republic of Texas
Posts: 21,698
Rep Power: 366 | |
| Source: FBI investigating Indymac for fraud
Quote:
From Kelli Arena
CNN Justice Department correspondent
WASHINGTON (CNN) -- The FBI is investigating Indymac Bancorp for fraud, a source tells CNN.
The California-based bank was taken over by federal regulators last week.
Indymac's collapse was the second-largest bank failure in U.S. history.
A source said the federal government is looking into whether the bank engaged in fraud when it made home loans to high-risk borrowers.
The source said the investigation is focused primarily on the company, not individuals.
| more ... Source: FBI investigating Indymac for fraud - CNN.com
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