Wilbanks & Gouinlock filed a whistleblower lawsuit on behalf of clients with insider knowledge of illegal lending practices at Citi Mortgage. The suit alleged that Citi Mortgage defrauded the government by failing to follow federal rules governing refinance loans for military veterans. These violations resulted in improper treatment of veterans and financial harm to taxpayers.
The whistleblowers provided substantial evidence showing that Citi Mortgage knowingly violated regulations designed to protect military veterans. These Citi Mortgage fraud practices included the mishandling of refinance loans backed by government guarantees, leading to widespread noncompliance and financial abuse.
The case was resolved with a $7.5 million settlement, holding Citi accountable for its misconduct. As a result, thousands of veterans were made aware of these deceptive lending practices. This case stands as a major win in the fight against Citi Mortgage fraud, and it highlights the power of whistleblowers in exposing illegal activity within the lending industry. Read more about this settlement here.
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This article is for informational purposes only and should not be considered legal advice.
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