CHICAGO — Investors of a failed trust company are suing Illinois regulators, claiming that their losses resulted from regulatory delay.

Independent Trust Corp. of Orland Park, Ill., was put into receivership last April after a $68.1 million investment in an affiliate turned sour. James Matkins, an individual investor from Rapid City, S.D., and Aztec Management Service Inc., a privately held investment firm in West Chester, Pa., allege in a lawsuit filed last month that the Illinois Office of Banks and Real Estate was negligent in its examination of Independent Trust, also known as Intrust.

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