In the settlement, Michael Perry denied any liability for the problems that sank the mortgage lender, but agreed to pay $1 million to the FDIC, which also intends to recover another $11 million through the director and officer insurance policies that covered Perry.
December 18, 2012 at 12:00 AM
1 minute read
A week after winning the conviction of three former executives of IndyMac Bancorp Inc., the Federal Deposit Insurance Corporation on Dec. 14 reached a settlement with Michael Perry, the ex-CEO of the failed mortgage lender.
In the settlement, Perry denied any liability for the problems that sank the mortgage lender, but agreed to pay $1 million to the FDIC, which also intends to recover another $11 million through the director and officer insurance policies that covered Perry.
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