6th Circ. Won't Revive Ponzi Victims' Suit Against PNC Bank

Published: 4/10/2017
6th Circ. Won't Revive Ponzi Victims' Suit Against PNC Bank
Source: WWW.LAW360.COM

A Sixth Circuit panel on Wednesday affirmed an Ohio federal court’s dismissal of a proposed class action brought against PNC Bank NA by investors in a couple’s $70 million Ponzi scheme, finding that the investors’ allegations about the bank’s handling of the couple’s accounts weren’t enough to establish its liability as a participant in the scheme.

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