Credit Suisse Settles Claims In Lancer Fraud Suit

Law360, New York (June 8, 2009, 12:00 AM EDT) -- Credit Suisse SA has agreed to hand over $320,000 to settle claims from the court-appointed receiver seeking to recover funds for investors conned by a hedge fund adviser who pled guilty to masterminding a $1.1 billion investment fraud scheme.

Judge Kenneth A. Marra of the U.S. District Court for the Southern District of Florida approved the settlement on Sunday, ending the receiver’s bid to recoup over $914,000 from the financial firm for its alleged role in facilitating the scheme.

In an effort to spare the “continued...
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