Regions Bank Says Investor Kited Checks To Cover Fraud

Law360 (July 28, 2020, 5:52 PM EDT) -- Regions Bank NA urged the Eleventh Circuit on Tuesday to reverse a district court decision clearing an investor in a Ponzi scheme of knowingly kiting checks to cover up the fraud, arguing it had presented a "mountain of evidence" that the investor knew the checks had insufficient funds.

In oral arguments conducted virtually before an Eleventh Circuit panel, Regions Bank attorney Joseph Perkins said the district court erred in concluding that investor Marvin Kaplan had no idea he was taking part in a scam and foreclosing Regions Bank's tort claims against Kaplan for allegedly aiding and abetting the fraud scheme....

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