Here's something you might be interested in.
Ask a Hipster — Advice you didn't know you needed
Big Screen — Movie commentary
Blurt — Music's inside track
Booze News — San Diego spirits
Classical Music — Immortal beauty
Classifieds — Free and easy
Cover Stories — Front-page features
Drinks All Around — Bartenders' drink recipes
Excerpts — Literary and spiritual excerpts
Feast! — Food & drink reviews
Feature Stories — Local news & stories
Fishing Report — What’s getting hooked from ship and shore
From the Archives — Spotlight on the past
Golden Dreams — Talk of the town
The Gonzo Report — Making the musical scene, or at least reporting from it
Letters — Our inbox
Movies@Home — Local movie buffs share favorites
Movie Reviews — Our critics' picks and pans
Musician Interviews — Up close with local artists
Neighborhood News from Stringers — Hyperlocal news
News Ticker — News & politics
Obermeyer — San Diego politics illustrated
Outdoors — Weekly changes in flora and fauna
Overheard in San Diego — Eavesdropping illustrated
Poetry — The old and the new
Reader Travel — Travel section built by travelers
Reading — The hunt for intellectuals
Roam-O-Rama — SoCal's best hiking/biking trails
San Diego Beer — Inside San Diego suds
SD on the QT — Almost factual news
Sheep and Goats — Places of worship
Special Issues — The best of
Street Style — San Diego streets have style
Surf Diego — Real stories from those braving the waves
Theater — On stage in San Diego this week
Tin Fork — Silver spoon alternative
Under the Radar — Matt Potter's undercover work
Unforgettable — Long-ago San Diego
Unreal Estate — San Diego's priciest pads
Your Week — Daily event picks
Bank of Internet sued
BofI Holding accused of lending money to "unsavory characters"
A putative class action suit was filed Tuesday (November 3) in federal court against San Diego-based BofI Holding, parent of Bank of the Internet, which specializes in mortgage loans to high-wealth individuals, often foreign. The law firm is San Diego's Scott & Scott and the plaintiff is Ralph Hazan.
The suit charges that from September 4, 2013, to October 13, 2015, those who bought stock in the Nasdaq-listed bank were fed materially false information. According to the suit, the company's internal controls were "frequently disregarded"; borrowers included foreign nationals who should have been off-limits, according to federal anti-money-laundering laws; the bank fired an internal auditor who raised these issues to management, and the company's statements were "materially false and misleading."
Some of the charges made in the lawsuit were included in a New York Times article on the bank in August of this year. "The bank has made loans to people who were later found to have run afoul of the law," said the Times. "Bank of Internet has lent money to some unsavory characters," added the Times, quoted in the lawsuit.
A spokesman for the bank said it would have no comment.
Here's something you might be interested in.
Bank of Internet sued
BofI Holding accused of lending money to "unsavory characters"
Bank of Internet sued
BofI Holding accused of lending money to "unsavory characters"
A putative class action suit was filed Tuesday (November 3) in federal court against San Diego-based BofI Holding, parent of Bank of the Internet, which specializes in mortgage loans to high-wealth individuals, often foreign. The law firm is San Diego's Scott & Scott and the plaintiff is Ralph Hazan.
The suit charges that from September 4, 2013, to October 13, 2015, those who bought stock in the Nasdaq-listed bank were fed materially false information. According to the suit, the company's internal controls were "frequently disregarded"; borrowers included foreign nationals who should have been off-limits, according to federal anti-money-laundering laws; the bank fired an internal auditor who raised these issues to management, and the company's statements were "materially false and misleading."
Some of the charges made in the lawsuit were included in a New York Times article on the bank in August of this year. "The bank has made loans to people who were later found to have run afoul of the law," said the Times. "Bank of Internet has lent money to some unsavory characters," added the Times, quoted in the lawsuit.
A spokesman for the bank said it would have no comment.
Comments