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Fed. Deposit Ins. Corp. ex rel. Moncho v. Fifth Third Bank N.A.

Qui Tam Action's Dismissal Under FCA's Public Disclosure Provision Is Explained

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MEMORANDUM DECISION AND ORDER Plaintiff-Relator Lee Moncho filed this qui tam action against Defendant Fifth Third Bank on behalf of the Federal Deposit Insurance Corporation (“FDIC”), asserting three causes of action under the False Claims Act (“FCA”), 31 U.S.C. §§3729, et seq. Moncho alleges that Defendant’s successor-in-interest, MB Financial Bank (“MB Financial”), made false claims for payment to the FDIC under a 2010 shared-loss agreement. On March 11, 2022, Defendant moved to dismiss. (ECF No. 66.) Defendant’s motion to dismiss is GRANTED. I. FACTUAL BACKGROUND AND PROCEDURAL HISTORY Broadway Bank (“Broadway”) was a Chicago-based, FDIC-insured bank in the business of providing construction and other loans secured by real property. (Second Amended Complaint (“SAC”), ECF No. 65

43-44.) After a series of bad loans left the bank heavily undercapitalized, the Illinois Department of Financial and Professional Regulation closed Broadway in April 2010 and appointed the FDIC as receiver. (id.

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