State Street Unit Buries Cemetery Co.'s Fraud Suit

Law360, New York (October 18, 2011, 7:30 PM EDT) -- A New York federal judge on Monday threw out a cemetery operator's suit accusing a State Street Corp. subsidiary of aiding a $60 million embezzlement scheme, ruling the claims were time-barred.

U.S. District Judge Paul Crotty ruled that a statute of limitations on four counts bars the suit filed in November by Beverly Hills, Mich.-based Midwest Memorial Group LLC against International Fund Services (Ireland) Ltd. over its alleged role in the scam.

He also rejected the company's contention that the charges were still permissible under the...
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