Incentive Awards Nix $8M BofA Settlement In Ponzi Scheme

By Matthew Heller (September 19, 2013, 6:13 PM EDT) -- A California federal judge on Thursday delayed signing off on a proposed $8.2 million settlement of a class action alleging Bank of America Corp. facilitated a $20 million real estate investment Ponzi scheme targeting Latinos, saying he was concerned about whether the $5,000 incentive awards to class representatives were justified....

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