CHICAGO (CN) – Drew Peterson, the retired policeman who is jailed on charges of murdering his third wife, sued JP Morgan Chase in Federal Court, claiming the lender illegally reduced his home equity credit line because of his changed situation.
Peterson says he needs the full $220,000 line of credit to pay his bond, his attorneys and expert witnesses. He says his annual police pension and Social Security payments of $104,000 are enough to guarantee his credit line.
Peterson, a former Bolingbrook, Ill., police officer, is in the Will County jail under $20 million bond. He is accused of killing his third wife, Kathleen Savio, in 2004. Peterson’s fourth wife, Stacy Peterson, has not been seen since October 2007.