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Financial Services Litigation Report

Ohio Federal Court Rules That Bank Is Not Liable Under Ohio Securities Act For Providing Ordinary Banking Services To Customers Who Operated Ponzi Scheme

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Home Perspectives Ohio Federal Court Rules That Bank Is Not Liable Under Ohio Securities Act For Providing Ordinary Banking Services To Customers Who Operated Ponzi Scheme
In a January 10, 2017 decision, United States District Judge Thomas M. Rose in the Southern District of Ohio ruled that plaintiffs, who claimed to be investors in a Ponzi scheme operated by customers of PNC Bank, failed to state a claim against PNC Bank, National Association and The PNC Financial Services Group, Inc. (collectively, … Continue Reading