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FDIC Sues Four Former IndyMac Executives for Negligence

The FDIC launched a professional liability lawsuit July 2 in Los Angeles against four IndyMac executives. The $300 million suit, which seeks $300 million in damages, accuses the executives of negligently approving loans to homebuilders who weren't likely to pay them back.

The four defendants operated the Homebuilder Division at IndyMac. President and Chief Executive Scott Van Dellen, Chief Lending Officer Richard Koon, Chief Credit Officer Kenneth Shellem and Chief Lending Officer William Rothman deny the allegations.

Chelsea Hennessy

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