$17M Fraud Suit Against RBS Unit Time-Barred, Judge Says

Law360, New York (March 7, 2012, 5:21 PM EST) -- A New York federal judge on Tuesday dismissed an investor suit against a Royal Bank of Scotland Group PLC subsidiary over $17.1 million in allegedly fraudulent losses from a tax shelter scheme, ruling that the claims were timed-barred.

National Westminster Bank PLC conspired with an investment manager in 2000 to charge plaintiff Tom Gonzales about $17.1 million in management fees on a $912 million loan that was supposedly a sham, according to the complaint filed in March 2011.

But U.S. District Judge Barbara S. Jones on...
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Case Information

Case Title

Gonzales et al v. Royal Bank of Scotland Group plc


Case Number

1:11-cv-01435

Court

New York Southern

Nature of Suit

Fraud or Truth-In-Lending

Judge

Loretta A. Preska

Date Filed

March 2, 2011

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