Banks Call TelexFree Suit Revision A Waste of Time

Law360 (January 13, 2020, 5:43 PM EST) -- A slew of financial services providers including Wells Fargo, Bank of America, TD Bank and PwC pushed back Friday in Massachusetts federal court against an attempt to revise allegations linking them to the TelexFree Ponzi scheme, arguing the repeat bids for revision are wasting the court's time.

The defendants, who also include Fidelity Co-Operative Bank, International Payout Systems Inc. and Propay Inc., were protesting a Nov. 29 bid by victims of the vast Ponzi scheme to have the case reconsidered.

Early 2019 decisions by U.S. District Judge Timothy S. Hillman had appeared to end claims in the case for some of...

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