#bank-litigation

#bank-litigation

The man who made Jamie Dimon worry about a wave of commercial mortgage fraud is a California multifamily player and big-time Republican donor, Gerald Marcil, who is now facing serious legal allegations. Marcil was among the defendants named in a complaint filed in Los Angeles County Superior Court this week accusing the investor of manipulating loan structures that left Zions Bancorporation and Western Alliance Bancorporation out in the cold when properties tied to their financing went bust, Bloomberg reported.