First Tennessee Bank

Published on: September 6th, 2017


$16

Million

Settlement of claims alleging fraudulent bundling

This lawsuit was filed by Wilbanks & Gouinlock and involves concealing and fraudulently bundling financial information. The net result of the fraud was that the Government incurred losses because of guarantees that were placed on these loans under the assumption by the Government that the loan certifications by the lender was accurate and correct – when that was not the case. Wilbanks & Gouinlock settled the case for $16 million.