2012-12-12businessweek.com

``Bank of America sued in federal court in Washington in October 2010 after the FDIC denied the bank's claims against Colonial Bank and another financial institution in receivership that bought fake mortgages from Ocala Funding, according to the complaint.

The bank "alleges that Colonial actively concealed its own financial condition, as well as the financial condition of TBW and Ocala, and that these misrepresentations allowed the fraudulent scheme to continue undetected for at least seven years," Rothstein wrote. ''


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