Businessmen File Countersuit against Cal-Farm
Luke, Robert, American Banker
LOS ANGELES -- Two California businessmen have filed suit against Cal-Farm Insurance Co. and others for $450 million, charging fraud, breach of contract, and racketeering.
The insurance company earlier had filed suit against the businessmen -- Errol and John Coughlan, owners of Eagle Bonds and Insurance Brokers Inc. and California-Pacific Construction Inc. -- alleging fraud and racketeering, among other things.
Cal-Farm, affiliated with the California Farm Bureau Federation, has been involved in a scandal concerning mortgage guarantees that has tarnished banks and savings and loans across the country, including the Bank of America, which apparently was not involved …
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Publication information: Article title: Businessmen File Countersuit against Cal-Farm. Contributors: Luke, Robert - Author. Magazine title: American Banker. Volume: 150. Publication date: August 16, 1985. Page number: 3+. © 2009 SourceMedia, Inc. COPYRIGHT 1985 Gale Group.
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