More: continued here
WILMINGTON, NC (WWAY) — One of the newly appointed leaders of a group of local business owners and managers promoting a new ballpark in Wilmington is currently being sued by the federal government.
Dr. James D. Hundley, a former orthopaedic surgeon in Wilmington, was named Vice Chairman of the “Wilmington Ballpark Association.” His son, Jim Hundley Jr., is Chairman of the group.
Hundley Sr. also sat on the board of directors of Cooperative Bank, which went under in 2009.
The Federal Deposit Insurance Corporative is suing Hundley, the rest of the board, as well as the bank’s former chief for “neglect of duty.”
The suit charges that the bank permitted “lax loan approval.”
The FDIC is suing Hundley individually for $4.48 million.
We’ll have more on this story coming up on WWAY NewsChannel 3 at 6. Click here to see the suit: http://clients.oakbridgeins.com/clients/blog/willetts.pdf