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High Profile Trial Holdup
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December 26, 2008
A prominent mortgage fraud case that involves JP Morgan Chase Bank has been delayed as a U.S District judge calls for an attempt at a settlement.
Trial for Poconos developer Gene Percudani, and employees of Chase Bank originally scheduled for February has been pushed up to June 1, 2009. The defendants are accused of defrauding 100 homebuyers.
The lawsuit, filed in 2002, contends that Chase employees, appraiser Dominick Stranieri and others aided Percudani in selling homes at inflated prices through Percudani’s companies, Raintree Homes, Why Rent? and Chapel Creek Mortgage.
Chase Manhattan Mortgage denies the allegations and claims Percudani duped the lender into making the loans.
Read complete Poconos fraud coverage at MortgageDaily.com
Read story at The Morning Call
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