Homebuilder Rhodes sued over past-due loan from failed bank

Staff

The Federal Deposit Insurance Corp. has sued homebuilder James Rhodes over a $2.6 million, past-due loan from failed Community Bank.

The FDIC, as receiver for Community Bank, is suing over a deficiency, based on Rhodes’ personal guarantee for a loan secured by two lots in Spanish Hills Estates. The government agency also alleges breach of contract. The lawsuit was filed on Feb. 2 in Clark County District Court.

Regulators closed Community Bank in August 2009.

Attempts to reach Rhodes for comment failed.

.....We hope you appreciate our content. Subscribe Today to continue reading this story, and all of our stories.
Limited Time Offer!
Our best offer of the year. Unlock unlimited digital access today with this special offer!!
99¢ for six months
Already a subscriber?
Exit mobile version