Investors Accuse TD, Gibraltar Of Aiding Rothstein Fraud

Law360, New York (July 29, 2011, 3:39 PM ET) -- Nearly five dozen victims of Scott Rothstein's massive Ponzi scheme sued TD Bank NA and Gibraltar Private Bank & Trust on Thursday in Florida, saying they lost nearly $40 million in part because the bankers helped the attorney carry out his scheme.

The financial firms “played critical roles in selling and facilitating Rothstein’s structured settlement scheme to unwitting investors,” said the group of investors, who lost money they had invested in Banyan Capital LLC funds, according to the complaint.

The funds were supposedly connected to the...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required