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Rafael Cruz, et al v. PNC Bank, National Assn, et al
Case Number:
17-3091
Court:
Nature of Suit:
Sectors & Industries:
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October 04, 2017
6th Circ. Won't Revive Ponzi Victims' Suit Against PNC Bank
A Sixth Circuit panel on Wednesday affirmed an Ohio federal court's dismissal of a proposed class action brought against PNC Bank NA by investors in a couple's $70 million Ponzi scheme, finding that the investors' allegations about the bank's handling of the couple's accounts weren't enough to establish its liability as a participant in the scheme.
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May 04, 2017
PNC Bank Asks 6th Circ. To Back $70M Ponzi Suit Dismissal
PNC Bank NA has urged the Sixth Circuit to uphold the dismissal of a proposed class action brought by investors in an Ohio couple's alleged $70 million Ponzi scheme, arguing the lower court was correct to toss the suit because the investors never claimed the bank did anything more to participate in the scheme than provide the couple with normal banking services.
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March 14, 2017
PNC Liable For Couple's $70M Ponzi Scheme, 6th Circ. Hears
A proposed class of investors pushed the Sixth Circuit on Monday to revive their suit claiming PNC Bank played an indispensable role in an Ohio couple's alleged $70 million Ponzi scheme, saying a lower court erred when clearing PNC of liability because it practiced atypical banking activities.