Texas Bank Seeks Quick Win In Investors' Fraud Suit

Law360, New York (March 23, 2011, 7:18 PM EDT) -- A company that tried and failed to open a Texas bank sought summary judgment Wednesday in a suit brought by investors whose money was stolen by its outside general counsel, claiming no knowledge of the fraud.

Even minimal due diligence would have allowed the plaintiffs to deposit their investments in the correct accounts rather than accounts held by Kansas attorney Clifford R. Roth, according to TriCentury Corp.'s motion in the U.S. District Court for the Eastern District of Texas.

"Here, the hard evidence is indisputable that...
To view the full article, register now.




Case Information

Case Title

Lee et al v. Tricentury Corporation et al

Case Number



Texas Eastern

Nature of Suit

Contract: Other


Ron Clark

Date Filed

November 26, 2008

Law Firms

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.