Bank files to foreclose 5 Rochester properties owned by Bob Morgan

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The ESL Federal Credit Union has filed a motion to foreclose on a property owned by Morgan Management. Papers filed in court say the property is on Fairwood Drive off East River Road in Henrietta. ESL says it plans to foreclose on two liens against the property worth more than $17 million. The bank says Morgan Management defaulted on the payments.

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One of the big news stories of the weekend is that JP Morgan and the Department of Justice, brokering a settlement of liability across multiple Federal agencies, have reached a tentative $13 billion settlement on the bank’s mortgage-related conduct in the run-up to the crisis. But the size is.

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Bob Morgan investigation by FBI could extend beyond buffalo development projects. FBI investigation into Rochester-area developer Robert Morgan is focused on "loan-to-value" ratio for properties.

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Rochester, N.Y. – ESL has filed a motion to foreclose on one of the properties owned by Morgan Management. The property in question is located at Fairwood Drive in Henrietta, off of East River Road.