LOS ANGELES : High Court Will Not Review Order for S & L to Face Trial
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The U.S. Supreme Court has refused to review a lower court ruling that a Los Angles savings and loan must stand trial on racketeering, fraud and other allegations in a lawsuit brought by Los Angeles City Atty. Jim Hahn.
Highland Federal Bank was accused of helping to create a network of 11 slum properties in the city through its loan practices. Highland was the principal defendant in a 1989 suit alleging that owners and their lenders had conspired to take the rental income from the low-income housing, but never make needed repairs.
The high court refusal followed a similar decision in April by the California Supreme Court to deny a review.
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