LEHIGH ACRES FGCU softball team helps Habitat for Humanity build three homes The Florida Gulf Coast University softball team helped Habitat for Humanity build three homes Saturday.
ESTERO Home Base Golf Tournament helps SWFL Veterans Veterans hit the green at the Copperleaf Golf Course on Saturday. This was part of the Home Base golf tournament.
FORT MYERS At least one person dead after propane truck collides with golf cart Florida Highway Patrol is investigating a crash that has left one person dead and another injured Saturday morning.
Scattered storms ahead for your Saturday plans The Weather Authority is tracking weekend temperatures in the low to mid-90s this weekend with a chance for scattered storms this afternoon.
WINK NEWS SWFL Scoreboard: High School Football Week 3 Thunderstorms tried to put a stop to week three of high school football on Friday Night, but gridiron action prevailed.
Man accused of plotting murder-for-hire denied bond A man suspected of being involved with a murder-for-hire plot will stay behind bars. Ryan Toranzo had his renewed motion to set bond denied today in Collier County Court.
LABELLE Two dead after crash on State Road 80 According to the Florida Highway Patrol, there was a crash on State Road 80 that has left at least one person dead Friday evening.
DeSoto County looks to recruit more teachers While it can sometimes be easy to fill a classroom with students, it is not so easy for teachers. Schools across the nation and locally in Southwest Florida are still dealing with the challenges of teacher shortages. With class back in session, so is teacher recruiting for DeSoto County schools. The assistant superintendent, Jake Reynolds, […]
IMMOKALEE ROAD Push for change after deadly crash on Immokalee Rd. We’re told the woman was driving with two kids in the car when a semi ran a red light and hit her Thursday morning.
FORT MYERS BEACH Mobi-Mats deployed on Fort Myers Beach A walkway to paradise! Brand new and blue, the Mobi-Mat is making things easier for Fort Myers Beachgoers.
NAPLES Women of Steel business conference inspiring and empowering women Focused, hardworking, empowered. These women have made a name for themselves as Women of Steel.
NAPLES Beloved Collier County bus driver retires after 20 years After 20 years of getting kids to school safely, a beloved Collier County bus driver is retiring.
Wade Wilson has new death row mugshot Convicted double-killer Wade Wilson has a new death row mugshot.
SOUTHWEST FLORIDA Sizzle Dining is back in SWFL It’s Sizzle Season! Local restaurants are ready to welcome new faces by offering exclusive menu deals to attract new customers.
LEHIGH ACRES FGCU softball team helps Habitat for Humanity build three homes The Florida Gulf Coast University softball team helped Habitat for Humanity build three homes Saturday.
ESTERO Home Base Golf Tournament helps SWFL Veterans Veterans hit the green at the Copperleaf Golf Course on Saturday. This was part of the Home Base golf tournament.
FORT MYERS At least one person dead after propane truck collides with golf cart Florida Highway Patrol is investigating a crash that has left one person dead and another injured Saturday morning.
Scattered storms ahead for your Saturday plans The Weather Authority is tracking weekend temperatures in the low to mid-90s this weekend with a chance for scattered storms this afternoon.
WINK NEWS SWFL Scoreboard: High School Football Week 3 Thunderstorms tried to put a stop to week three of high school football on Friday Night, but gridiron action prevailed.
Man accused of plotting murder-for-hire denied bond A man suspected of being involved with a murder-for-hire plot will stay behind bars. Ryan Toranzo had his renewed motion to set bond denied today in Collier County Court.
LABELLE Two dead after crash on State Road 80 According to the Florida Highway Patrol, there was a crash on State Road 80 that has left at least one person dead Friday evening.
DeSoto County looks to recruit more teachers While it can sometimes be easy to fill a classroom with students, it is not so easy for teachers. Schools across the nation and locally in Southwest Florida are still dealing with the challenges of teacher shortages. With class back in session, so is teacher recruiting for DeSoto County schools. The assistant superintendent, Jake Reynolds, […]
IMMOKALEE ROAD Push for change after deadly crash on Immokalee Rd. We’re told the woman was driving with two kids in the car when a semi ran a red light and hit her Thursday morning.
FORT MYERS BEACH Mobi-Mats deployed on Fort Myers Beach A walkway to paradise! Brand new and blue, the Mobi-Mat is making things easier for Fort Myers Beachgoers.
NAPLES Women of Steel business conference inspiring and empowering women Focused, hardworking, empowered. These women have made a name for themselves as Women of Steel.
NAPLES Beloved Collier County bus driver retires after 20 years After 20 years of getting kids to school safely, a beloved Collier County bus driver is retiring.
Wade Wilson has new death row mugshot Convicted double-killer Wade Wilson has a new death row mugshot.
SOUTHWEST FLORIDA Sizzle Dining is back in SWFL It’s Sizzle Season! Local restaurants are ready to welcome new faces by offering exclusive menu deals to attract new customers.
Mike Mozart/ Flickr/ MGN NEW YORK (AP) – Bank of America Corp. was not liable for fraud and subject to a penalty of over $1.2 billion for its actions before the economy collapsed in 2008 despite a jury’s finding to the contrary, a federal appeals court ruled Monday. The 2nd U.S. Circuit Court of Appeal in Manhattan said there was insufficient evidence for a jury to conclude at a 2013 trial that mail and wire fraud was committed by the bank’s Countrywide Financial unit in late 2007 and 2008 when it passed along mortgages to government housing agencies Fannie Mae and Freddie Mac. Prosecutors had alleged that the bank sold mortgages at break-neck speed without regard to quality as the economy hurtled toward one of the nation’s worst financial downturns. In July 2014, U.S. Attorney Preet Bharara touted the jury verdict and subsequent civil penalty as the first time a bank or its executives had been found liable under federal law for mortgage fraud leading up to the financial crisis. His office had no immediate comment Monday. Lawrence Grayson, a spokesman for the Charlotte, North Carolina-based bank, said the bank was pleased with the 2nd Circuit’s ruling. The three-judge panel, in a ruling written by Circuit Judge Richard C. Wesley, said trial evidence came up short. The appeals court said the claims arose in 2012 after a former employee of Countrywide sued the company, alleging that a division of Countrywide Home Loans that had specialized in subprime loans acted fraudulently after it transformed itself into a prime origination division after the subprime market collapsed in 2007. The United States later joined the lawsuit. After a jury found the bank and an employee liable, the trial judge imposed a $1.27 billion penalty against the bank and a $1 million penalty against an executive who oversaw the creation of a loan origination process called the “High Speed Swim Lane” beginning in August 2007. The program nicknamed the “Hustle” lasted until May 2008. The jury found that Countrywide executives deliberately misrepresented the quality of the mortgages that were sold as safe investments. The 2nd Circuit, however, found a “basic deficiency” in proof. “We conclude the evidence is insufficient to sustain the jury’s verdict,” it said. The 2nd Circuit said the government had to prove there was fraudulent intent when the bank set up contracts. “The government did not prove – in fact, did not attempt to prove – that at the time the contracts were executed Countrywide never intended to perform its promise of investment quality. Nor did it prove that Countrywide made any later misrepresentations … as to which fraudulent intent could be found,” it said. Prior to the housing collapse, Countrywide was one of many mortgage companies selling risky mortgages to Fannie Mae and Freddie Mac. Bank of America, JPMorgan Chase and other big Wall Street banks paid out billions of dollars in legal settlements for their roles in the financial crisis.