Change Co. wins $94M suit against former employee

Community development financial institution The Change Company won judgment against a firm led by its former employee, who previously sued the lender, lodging allegations of misconduct.

The Anaheim, California-based parent of Change Lending filed suit in 2023 against Yeti Global Services, a company owned by its former chief of staff Adam Levine. Change accused Levine of stealing and delivering documents for Yeti that facilitated a $10 million extortion scheme against the company.

A New York judge awarded Change over $94 million in damages. The Change Co. was founded by former Banc of California CEO Steven Sugarman in 2018 and is one of the country’s leading non-qualified mortgage lenders serving minority and low-income communities. 

Previously, Levine had sued the CDFI for wrongful…