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meow2u3

(24,745 posts)
Wed May 30, 2012, 03:08 PM May 2012

Whistleblower fights Bank of America and wins--$14.5 mil!

Bank of America whistleblower receives $14.5 million in mortgage case

(Reuters) - A former home appraiser will receive $14.5 million as part of a whistleblower lawsuit that accused subprime lender Countrywide Financial of inflating appraisals on government-insured loans, his attorneys said Tuesday.

Kyle Lagow's lawsuit sparked an investigation that culminated in a $1 billion settlement announced in February between Bank of America Corp (NYS:BAC - News) and the U.S. Justice Department over allegations of mortgage fraud at Countrywide, his attorneys said in a news release. Bank of America bought Countrywide in 2008.

Lagow's suit was one of five whistleblower complaints that were folded into the $25 billion national mortgage settlement that state and federal officials reached with Bank of America and four other lenders this year. His suit was unsealed in February, but the amount of his settlement had not been disclosed.

http://finance.yahoo.com/news/bank-america-whistleblower-receives-14-232819912.html?l=1

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Whistleblower fights Bank of America and wins--$14.5 mil! (Original Post) meow2u3 May 2012 OP
Good. Nt xchrom May 2012 #1
k&r Starry Messenger May 2012 #2
Hope he pays Mitt RMoney's tax rates. nt DCKit Jun 2012 #3
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