Florida attorneys have been sued by the Federal Deposit Insurance Corporation claiming that they should have been aware that they were involved in making eighty two ($82,000,000.00) million dollars in illegal loans back in 2009. The lawsuit names Nason, Yeager, Gerson, White and Lioce as defendants. The suit claims that these defendants knew that the transaction was illegal because some of the assets were being used to purchase stock in Orion Bank. The suit is looking to recover thirty one ($31,000,000.00) million dollars from these defendants, which represents the amount of lost loans by the bank.

There was a separate issue of whether the loans exceeded banking limits. The Florida firm of Cole Scott and Kissane is defending the defendants in this action. Interestingly enough Cole Scott & Kissane is more known for its general lines liability defense but occasionally provide legal malpractice defense to attorneys.

For further information please free to contact the Weston Victim’s Rights Attorneys at the Schulman Law Group at 954-349-3300, 1-877-529-0444 or at info@www.schulaw.com