Updates to our Terms of Use

We are updating our Terms of Use. Please carefully review the updated Terms before proceeding to our website.

Thursday, March 28, 2024 | Back issues
Courthouse News Service Courthouse News Service

Mortgage Lending Called a Ponzi Scheme

SAN DIEGO (CN) - In a federal RICO complaint, homebuyers claim that Washington Mutual's, and its successor JP Morgan Chase's reckless lending to unsophisticated borrowers whom they knew could not afford their mortgages was a "nationwide Ponzi scheme."

Armando and Josephine Del Carmen are represented by David St. John of Oxnard.

Categories / Uncategorized

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Loading...