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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWhistleblower 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
xchrom
(108,903 posts)1. Good. Nt
Starry Messenger
(32,342 posts)2. k&r
DCKit
(18,541 posts)3. Hope he pays Mitt RMoney's tax rates. nt