Property owners sue Credit Suisse for $24 billion

01/4/2010 | Reuters · Wall Street Journal, The

Owners of property at four high-end ski and golf resorts in the U.S. have sued Credit Suisse Group for $24 billion in damages, on allegations that the bank breached federal racketeering laws by implementing a "loan-to-own" program that burdened the resorts and home-buyers there with excessive debt. A Credit Suisse spokesman said the suit lacks merit.

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Reuters · Wall Street Journal, The

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