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Bank of Illinois Denies Forgery, Sues Investors
BLOOMINGTON, Ill. (AP) -- Bank of Illinois is suing three real estate investors, claiming they owe the bank millions of dollars.

The countersuit filed Thursday in McLean County is the latest step in the saga of the troubled bank and developer Larry Hundman.

The lawsuit comes after the investors told the court they can't be forced to pay a $3 million loan Hundman's company defaulted on last month. They're listed as guaranteeing the loan, but they claim their signatures were forged.

The bank, however, denies that and claims they are trying to "shirk their promise to repay $3 million that they benefited from" as investors in Hundman's company.

Bank of Illinois is trying to get $9.3 million in defaulted loans tied to Hundman.

Hundman's attorney, Tom Arkell, declined to comment on the countersuit.

(Copyright 2010 by The Associated Press. All Rights Reserved.)
02 26 10 by Newsroom
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