Trial date set after FDIC sues 8 former Vantus Bank officers - KTIV News 4 Sioux City IA: News, Weather and Sports

Trial date set after FDIC sues 8 former Vantus Bank officers


SIOUX CITY, Iowa (KTIV) A trial has been set for next year in a lawsuit filed against eight former Vantus Bank officers by the FDIC.

The Sioux City-based bank closed in September 2009.The following day, it reopened as Great Southern Bank.

The bank's former president and CEO Michael Dosland is among the eight being sued for a total of more than $58M.

The FDIC claims these eight officers were negligent when they used $65M in bank funds to purchase "high risk collateralized debt."  This money was 120 percent of its core capital.

A trial date has been set for March 2015.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KTIV Television Inc. All Rights Reserved.
For more information on this site, please read our Privacy Policy, Terms of Service and Mobile Privacy Policy & Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Administrative Assistant Kathy Clayton at (712) 239-4100 x209. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at