Muskogee Savings and Loan Firm Files $19.5 Million Suit

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A Muskogee savings and loan institution filed a $19.5 million suit Tuesday in U.S. District Court for the Western District of Oklahoma against a Duncan savings and loan, an Oklahoma City financial corporation and related parties.

In the suit, Phoenix Federal Savings & Loan of Muskogee alleged United Federal Savings & Loan of Duncan, C.B. Financial Corp. of Oklahoma City and related entities violated Title IX of the Organized Crime Control Act of 1970 (Racketeer Influenced and Corrupt Organizations Act) and committed "breach of fudiciary duty, intentional and constructive fraud, breach of contract, tortious breach of covenant of good faith and negligence."

In …