CHICAGO — In an attempt to recover $104 million, the Federal Deposit Insurance Corp. has sued former Chicago Bears quarterback Jim McMahon and others involved in a now-failed bank that was at the center of the campaign for President Obama's old U.S. Senate seat.
A person close to the case said Monday the former quarterback is among the seven directors, along with two officers at Broadway Bank, who were sued last month. The person spoke on condition of anonymity because he is not authorized to discuss the case.
The lawsuit says the defendants approved the loans despite warnings that they were risky. In a statement released through his attorneys, McMahon denied any wrongdoing.
The bank was founded by the father of former state treasurer Alexi Giannoulias (jeh-NOO'-lee-ehs), who lost the 2010 race for Obama's old Senate seat.
- Ben Simmons, Brandon Ingram and intrigue...
- 24-team Euro 2016 a wacky success
- Nevada gambling regulators to weigh new...
- Carmelo Anthony among 10 set for US Olympic...
- Jazz snubbed: Agents block players from...
- AP Source: Pacers acquire Thad Young from Nets
- Rio Olympic organizers unveil village where...
- Agent: LeBron James to skip Rio Olympics
- Never on Sunday: BYU won't compete on... 137
- U. stadium gets bigger scoreboard,... 57
- Morning links: ESPN analysts critical... 31
- Morning Links: BYU basketball fans... 30
- Utah basketball: Poeltl taken by... 19
- Sitake making transition from longtime... 17
- Utah Jazz plan to be 'active' during... 16
- Families grapple with the pressure to... 15