Wash. Bank Abetted $230M Ponzi Scheme, Investors Say

By Rachel Riley · September 29, 2025, 11:02 PM EDT

A Washington state bank has been accused of keeping afloat a real estate investment firm's $230 million Ponzi scheme by maintaining the enterprise's accounts even when evidence of fraud surfaced, according...

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Documents

Case Information

Case Title

Lance Miller and Seth Freeman as Co-Trustees of the iCap Trust v. Columbia Bank f/k/a Umpqua Bank

Case Number

2:25-cv-01870

Court

Washington Western

Nature of Suit

Other Fraud

Date Filed

September 26, 2025