Passarelli suit settled

Late in the article:

Lenders including Lehman Brothers Holdings Inc., the biggest underwriter of mortgage-backed bonds in 2007, say they too have been victimized by fraudulent appraisals. New York-based Lehman sued 14 people and five companies including Passarelli & Potts Appraisal Service and appraiser Fred Passarelli in federal court in Tampa, Florida, alleging ``grossly inaccurate'' appraisals that valued residences in the Sunset Bay development at about $733,000 when they were only worth $73,000.

. . . Passarelli & Potts Appraisal was ordered to pay $4.5 million.

Bloomberg.com: Finance