United States Second Circuit

In the government's action, under 12 U.S.C. section 715z-4a, to recover rental income defendants retained in violation of their regulatory agreement with HUD, which insured the mortgage financing defendants' multifamily housing project, the District Court's judgment is affirmed where: 1) government retained standing despite having foreclosed on the mortgage; and 2) the action was not barred by the six-year statute of limitations because the limitations period started to run when HUD discovered defendant's equity skimming in 2000, and not when they defaulted on the mortgage in 1997.

Appellate Information

• Decided 04/02/2013
• Published 04/02/2013

Judges

Court

• United States Second Circuit

Counsel