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.
- Jazz knock off Thunder in emotional game with...
- Former Jazz big man Enes Kanter goes off,...
- BYU defense has ‘a long ways to go’
- 5 things you may have missed at BYU...
- Brad Rock: The unforgettable Hot Rod Hundley
- Dick Harmon: Nomadic hoops coach Tony Ingle...
- Utah football: Quarterback Kendal Thompson...
- BYU offense offers sneak peek for fans in...
- A not-so-Sweet 16 for the Runnin' Utes... 109
- Former Jazz big man Enes Kanter goes... 33
- Guest commentary: Utah Jazz face an... 31
- Can Utes turn Sweet 16 dance into date... 28
- Brad Rock: Utes shouldn't feel bad, in... 27
- Photo gallery and video replay: BYU... 23
- Home games on the Sabbath: RSL... 22
- Dick Harmon: Henderson joins other BYU... 20