News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Investment Banking

Deutsche Bank set to face investor lawsuits over allegations it enabled US Ponzi scheme

Federal judges said on 30 March the lawsuits had put forth plausible claims against the investment bank and could proceed, potentially allowing for discovery into its dealings with the alleged fraud

Judges in New York and Miami ruled that investor lawsuits could advance against Germany’s Deutsche Bank for allegedly ignoring warnings that it was helping finance a real-estate-linked Ponzi scheme.

Cayman Islands liquidators won rulings on 29 March and 30 March in separate lawsuits in Florida and New York alleging that Deutsche Bank helped facilitate a wide-ranging fraud by Biscayne Capital International, an investment advisory firm.

WSJ Logo