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Home / News Story / Receiver For Companies Involved In Ponzi Scheme Couldn't Sue Bank (access required)

Receiver For Companies Involved In Ponzi Scheme Couldn't Sue Bank (access required)

The receiver for two businesses that allegedly ran fraudulent investment schemes could not recover on tort claims against the Rock Hill bank that handled the organizations' accounts, the Appeals Court ruled July 31. In a first-impression decision, the appeals panel said the bank could raise the defense of in pari delicto to derail the receiver's suit ...

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