Former bank executives sued over loans

By: Associated Press Email
By: Associated Press Email

DENVER (AP) Federal regulators have filed a lawsuit against former bank executives over questionable loans that preceded bank failures.

The Federal Deposit Insurance Corp. took over United Western Bank in 2011. Regulators say the former executives are responsible for more than $76 million in questionable loans that helped push the bank toward collapse.

The six former officers and three ex-directors served on two key loan-approving committees at the bank that granted at least 17 business loans between 2006 and 2009 that the FDIC says should never have been allowed.

According to the Denver Post, the former executives could not be reached for comment.

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