News & Events

News & Events

3.16.2009

Devlin Quoted in The Seattle Times on ING Racketeering Suit

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Lane Powell Shareholder John Devlin is quoted in an article titled “ING Bank claims racketeering by real-estate professionals and borrowers,” published by The Seattle Times on Monday, March 16. The article discusses a racketeering lawsuit filed by ING Bank, alleging a criminal conspiracy by an escrow agent, a mortgage broker and 10 couples to defraud the bank of at least $6 million through falsified mortgages. Devlin commented about the rarity of the suit, as it is more common for borrowers to bring racketeering suits against lenders and real-estate professionals. He estimates that depending on the success of this suit, similar ones may become more prevalent.