Deutsche Bank Among "The Largest Slumlords In Los Angeles" Says City Seeking Million$ In Fines Over Graffiti-Scarred Dens For Squatters, Thugs

In Los Angeles, California, the Los Angeles Times reports:

• The Los Angeles city attorney's office accused officials at Deutsche Bank, a German financial institution, of being among "the largest slumlords in Los Angeles" and filed an unusual lawsuit Wednesday asking a judge to fine the company hundreds of millions of dollars and issue an injunction forcing it to clean up the foreclosed properties it owns in Los Angeles, which have numbered 2,000 over the last four years.
• After a yearlong investigation, city officials claimed in court papers that Deutsche Bank has illegally evicted tenants, shut off their water and power and then let hundreds of properties turn into graffiti-scarred dens for squatters, gang members and other criminals, destroying quality of life and driving up crime in the process.

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• Los Angeles' legal action comes a day after the federal government filed a fraud lawsuit against Deutsche Bank accusing the firm of recklessly approving mortgages "in blatant disregard" of whether borrowers could make the required monthly payments. The government is seeking more than $1 billion in that suit.

For the story, see L.A. says Deutsche Bank among city’s largest slumlords, files suit seeking hundreds of millions of dollars.