Sunday, December 16, 2012
IndyMac's Ex-CEO Settles for $1 Million, Denies Liability for Lender's Collapse
A week after winning a $169 million jury verdict in a case against three former IndyMac executives, the FDIC reached a settlement Friday with the failed mortgage lender's ex-CEO. In the settlement, Michael Perry denies liability for problems that sank IndyMac, but agrees to pay $1 million to the FDIC, which intends to recover another $11 million through the director and officer insurance policies that covered Perry.
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