Lawsuit Aims to Derail Justice Department’s $7.2 Billion Bank Settlement
Litigation in federal court seeks to halt the Justice Department’s recent multi-billion fraud settlement with Deutsche Bank, in which the bank admitted to knowingly making ‘no money down’ mortgage loans that did not meet its lending guidelines then lying about that practice. Deutche Bank, and other banks reaching similar settlements, have made admissions that wholly contradict testimony at mortgage fraud trials, where the government prosecuted real estate agents, along with other parties to real estate transactions, for scheming to trick banks into making ‘no money down’ mortgage loans that did not meet the bank’s lending guidelines. The lawsuit alleges the Justice Department is pursuing multiple theories of criminality concerning the exact same properties. Banks are either innocent victims duped into making ‘no money down’ loans, entitled to restitution, or banks knowingly made ‘no money down’ loans that didn’t meet lending guidelines then lied when reselling loans on Wall Street, defrauding buyers of those mortgage loans. The lawsuit tracks specific properties (for example, the property located at 9905 Elizabeth in Cleveland) to prove the government pursues multiple theories of criminality concerning the exact same properties. In order to play this double game with banks, evidence the government used in lender settlements is hidden from defendants fighting their cases, resulting in the imprisonment of innocent people. The suit asks a federal judge to hold these settlements, where banks pay money to escape prosecution and blame innocent people for their criminal behavior, unconstitutional.
“The Justice Department possesses proof that mortgage fraud defendants are innocent but doesn’t feel like providing that evidence,” said Tony Viola. “I am hopeful an attorney will consider assisting with this litigation and present this matter as a class action lawsuit, on behalf of others who have been wrongfully prosecuted and gravely damaged by the government’s abuse of power.”
To read the complaint, kindly consult the federal court’s PACER system, case No. 1:17-cv-827-JG, Northern District of Ohio, Viola v. William Bair, et. al.. Tony Viola is the only prisoner in America who proved his innocence at trial yet remains in jail, www.FreeTonyViola.com.
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