11th Circuit Upholds Dismissal Of Ponzi Suit Against Bank Of America
ATLANTA – In an unpublished opinion, the 11th Circuit U.S. Court of Appeals on Jan. 11 affirmed a federal court’s dismissal of a proposed class action filed by investors who accused Bank of America NA of abetting convicted Ponzi scheme perpetrator Beau Diamond, agreeing with the federal court that the plaintiffs did not sufficiently show that the bank had knowledge of the fraudulent actions (Rita Lawrence, et al. v. Bank of America NA, No. 11-12401, 11th Cir.).
View full post on LexisNexis® Mealey’s™ Daily Legal News
11th, against, America, Bank, Circuit, dismissal, Ponzi, suit, upholds