Indianapolis Landlord Charged In Alleged Equity Skimming Scheme; Deutsche Bank Chairman Listed As Potential Witness
The article points out a possible subplot to this story:
- "[T]he Perkins case stands out because Marion County prosecutors could subpoena as a witness Josef Ackermann, chairman of Deutsche Bank, the largest bank based in Germany. Deutsche Bank is not charged with a crime, but it acted as trustee for some of Perkins' lenders. Housing officials say the German bank could provide insight into the lending process. Ackermann's name appears on the prosecution's list of possible witnesses. "What we're seeing is properties are being flipped four and five times, being bought and sold over and over again, and still the banks keep making the loans," said Rufus "Bud" Myers, executive director of the Indianapolis Housing Agency, which manages the city's Section 8 program."
For more, see Landlord accused in fraud, theft case (Steakhouse employee charged with failing to pay mortgage on Section 8 property).
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