XL, BofA, Others Want Payback From $50M Fraudster

Law360, New York (December 14, 2010, 5:22 PM EST) -- Bank of America NA and underwriters including XL Specialty Insurance Co. have lodged petitions to recover portions of nearly $19.3 million seized by the FBI from a former New York City police sergeant who admitted to stealing at least $50 million through a currency transfer business.

Significant portions of cash seized in February from defendant Robert Egan were clearly marked with the serial numbers of the petitioners or the banks they insured, and are entitled to hearings for proper allocation, petitioners said in three separate briefs...
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