Fraud Lawsuit Nets Velocity Press $1 Million
Facebook
Facebook
Twitter
Twitter
LinkedIn
LinkedIn
Email
Email
2 Comments
Comments
Prior to the loan closing, KeyBank told Sanden it would have to secure a letter of credit before releasing a second payment to the manufacturer. Judge Stewart ruled that Velocity owner Drew Elkins was never informed of the requirement or other changes negotiated by Sanden and KeyBank.
Stewart ruled that the bank did not inform Elkins of the modifications and extra requirements to ensure the owner would sign off on the loan, the Tribune reported.
2 Comments
View Comments
Related Content
Comments