Beverly Hills 1/5/2010 2:13:44 AM
News / Business

Credit Suisse Sued for $24 Billion by Luxury Property Owners

Finance World News Update by EQUITIES Magazine

Accusing Credit Suisse Group AG of running a “predatory” loan-to-own scheme that loaded the developments with debt that led to foreclosure, four Western luxury ski and golf resorts are suing the Swiss bank for $24 billion.

 

Yesterday, L.J. Gibson and Beau Blixseth filed the class action lawsuit in a U.S District Court in Idaho, court papers show, accusing Credit Suisse and related corporations of wire and mail fraud, racketeering, money laundering, conspiracy and other charges.

 

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Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.

 

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