An executive who handled warehouse advances for a mortgage banker in the Empire State has been indicted and arrested. The company collapsed amid warehouse-related litigation.

In an indictment that was unsealed on Thursday in a federal court in Manhattan, New York, the Department of Justice accuses John Reimer of defrauding warehouse lenders.

According to indictment, Reimer, 60, was employed as a vice president and comptroller of a Nassau County, New York-based mortgage-lending institution.

Source: Mortgage Daily