FBI Investigating Possible Fraud at IndyMac

IndyMac is one of several banks being probed by the Federal Bureau of Investigation (FBI) for possible mortgage fraud, a U.S official revealed on Wednesday.

According to reports from the Associated Press, IndyMac has been included on an FBI list of companies involved in corporate fraud with an investigation commencing shortly before the bank was seized last week.

An FBI spokesperson on Wednesday said, "We receive information from a variety of sources on a daily basis and we have an obligation to review each allegation on its merits."

Evan Wagner, a spokesman for IndyMac speaking to Reuters said, "It shouldn't be surprising that there is an investigation because of the size of the bank failure."

Another company believed to be under the FBI's watch list is Countrywide Financial Corp, the largest U.S. mortgage lender which was recently taken over by the Bank of America.