The Real Deal Miami

Federal regulator suing banker over alleged real estate loan fraud

SEC accused former BankAtlantic CEO Alan Levan of securities and accounting fraud
December 05, 2014 09:45AM

Brendan Smialowski, AFP/Getty

Outside of the Securities and Exchange Commission. Credit: Brendan Smialowski, AFP/Getty

A government regulator is claiming that business executive Alan B. Levan deceived BankAtlantic investors about the quality of its real estate loans.

Levan, who led the former Fort Lauderdale-based BankAtlantic (now BB&T) as its CEO and chairman of the board, was reportedly portrayed as a liar who is unfit to run a public company.

The South Florida Business Journal reported that Levan and his legal team are mounting an “aggressive defense.”

The SEC filed a lawsuit in 2012 against Levan over allegations of securities and accounting fraud. [South Florida Business Journal] – Katherine Kallergis