BofA, Others’ Payback Claims Survive In $50M Cop Fraud

Law360, New York (August 3, 2011, 4:36 PM EDT) -- The U.S. lost a bid Tuesday to dismiss attempts by Bank of America NA, its underwriters and others to recover portions of nearly $19.3 million seized from an ex-New York City police sergeant convicted of stealing $50 million from banks through a cash transfer business.

The ruling focused on petitions by Bank of America, underwriters including XL Specialty Insurance Co. and several other parties lodged in New York federal court in December seeking to recover $15.7 million of the $19.3 million seized from former police Sgt....
To view the full article, register now.




Case Information

Case Title

Magistrate judge case number: 

Case Number



New York Southern

Nature of Suit

Date Filed

March 10, 2010

Law Firms


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.