TelexFree Ponzi Victims Seek To Revive Bank Claims

Law360 (December 2, 2019, 5:43 PM EST) -- Victims of the $3 billion TelexFree Ponzi scheme claim that new evidence supports their allegations against five financial service providers previously cut from their 2014 suit over the scam and are asking a Massachusetts federal judge to accept their fifth amended complaint.

The victims asked U.S. District Judge Timothy S. Hillman on Nov. 29 to reconsider his early 2019 decisions to dismiss financial service providers including Bank of America, TD Bank, Wells Fargo Bank, PricewaterhouseCoopers and payment processor Global Payroll Gateway Inc. from the multidistrict litigation.

Judge Hillman ruled at the time that the evidence didn't suggest that those financial services providers...

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