A Texas federal court jury awarded the U.S. government about $92 million in a False Claims Act case brought against Allied Capital and bank principal Jim Hodge by a whistleblower who accused the company and some affiliates of knowingly originating and underwriting more than a thousand home loans that did not meet the Federal Housing Administration’s (FHA) insurance requirements. The U.S. Department of Justice intervened in the case in 2011, the same year a whistleblower filed it in a New York federal court, naming both Allied Home Mortgage Capital and Allied Home Mortgage Corp. as defendants. The government moved the ... Read More
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