Foreign Bond Trader Claims BofA Negligently Handled Account

Law360, New York (March 3, 2014, 8:20 PM EST) -- Foreign bond trader Megaval Enterprises Ltd. filed suit against Bank of America NA and its own former agents in Florida state court Friday, claiming the bank negligently handled an account Megaval used to conduct about $45 million worth of transactions between 2007 and 2009.

The British Virgin Islands-based trading company claims Bank of America provided faulty advice on which U.S. federal licenses and registrations it needed to set up accounts through a third party and provide its services for clients looking to trade Venezuelan bonds and...
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