Tilton, Patriarch Fail To Shake $45M Fraud Suit

By Jack Newsham (February 23, 2017, 7:27 PM EST) -- A New York state appeals court on Thursday affirmed a decision that left a fraud claim by a German bank in play against Lynn Tilton and her investment firm Patriarch Partners LLC, saying early signs that the funds in question were not what they appeared didn't start the clock on the statute of limitations.

Norddeutsche Landesbank Girozentrale, known as Nord/LG, and an affiliate say they lost $45 million when money they gave to some of Tilton's collateralized debt obligation funds were used not for corporate lending, as other CDO funds are, but to make private equity investments in companies that Tilton...

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