Tagged with "Ponzi"

Wells Fargo Agrees To $3.75 Million Deal Concluding Ponzi-Aid Dispute

Posted on July 1st, 2022 at 1:16 PM
Wells Fargo Agrees To $3.75 Million Deal Concluding Ponzi-Aid Dispute

Investors who alleged that Wells Fargo aided and abetted a real estate Ponzi scheme have asked a California federal judge for permission to proceed with a $3.75 million settlement.

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Court Approves $54 Million Settlement Between Comerica and Ponzi Scheme Investors

Posted on September 15th, 2021 at 3:59 PM
Court Approves $54 Million Settlement Between Comerica and Ponzi Scheme Investors

A California federal judge has initially approved a $54.2 million agreement between Comerica Bank and a class of about 8,000 investors, who accused the bank of abetting a Ponzi scheme by Woodbridge Group. Nearly 61% of the class are members of the Woodbridge Liquidation Trust while the rest are individual investors, according to the motion for approval.

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City National Bank Agrees to Settle Ponzi Scheme Claim for $33 Million

Posted on August 10th, 2018 at 2:53 PM
City National Bank Agrees to Settle Ponzi Scheme Claim for $33 Million

A receiver overseeing the California company, Nationwide Automated System, Inc., has urged a California federal court to approve a $33 million settlement resolving claims against the company’s bank, City National Bank for its involvement in a $123 million Ponzi scheme.

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New York Fund Manager Charged with Running a $19 Million Ponzi Scheme

Posted on October 11th, 2017 at 10:49 AM
New York Fund Manager Charged with Running a $19 Million Ponzi Scheme

New York hedge fund manager, Michael Scronic has been criminally charged with one count of securities fraud and one count of wire fraud for allegedly stealing $19 million from 45 investors.

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