Businessman, ex-wife sued over loan by failed bank
The Federal Deposit Insurance Corp. on Thursday sued Mark Brown and his former wife over a $4.7 million loan that was made by failed Community Bank.
Brown is a local businessman who once operated Brown & Partners, a local public relations agency.
The FDIC said the loan is in default and cites a guaranty signed by the Browns for borrower Coronado Aspen II.
Community Bank made the loan in 2004 to Coronado Aspen II with the two-story office building at 7900 W. Sahara Ave. as security. Aspen Financial is the main tenant.
The FDIC, as receiver for Community Bank, cited a personal guarantee signed by the Browns for the loan and seeks $4.5 million in damages plus interest, late fees and other costs. Mark Brown declined to comment, because his attorney has not seen the lawsuit.
