Deutsche Bank AG to pay $95m bc it disregarded warning signs about a high-dollar ponzi scheme.
Reps of 13 Cayman Islands companies undergoing liquidation brought the suit in the US District Court for the Southern District of Florida. Five of them were allowed to proceed to trial.
Four individuals allegedly ran two companies, South Bay Holdings LLC and Biscayne Capital International LLC. Those individuals allegedly used securities-issuing companies to connect investors to South Bay’s real estate assets, which were heavily leveraged and worthless as backing
"The liquidators alleged that Deutsche Bank and several subsidiaries knew that the real estate investors’ funds weren’t being used for their intended purpose."
tmf-group.com/en/news-insigh…
WHO ARE THE LIQUIDATORS?
"EFR Law Firm and Bondurant Mixson & Elmore LLP represent the companies’ liquidators. Duane Morris LLP and Cahill Gordon & Reindel LLP represent Deutsche Bank."
news.bloomberglaw.com/litigation/deu…
Liquidators, accounts, bookies.
1925: Case Law created from co Breckwoldt was at, BEFORE he went to Ford, Touche Niven. Fred Stern Co RUBBER. Judge Lehman.
🚩Deloitte Touche
🚩Touche Niven, JFC
🤩 Touche Niven is Deloitte Touche, same co Dan Crenshaw's grandpa was at! "A flair for saving doomed businesses led to the formation of George A. Touch Co. in 1899 and in 1900, along with John Niven, he set up the firm of Touche Niven in New York.
www2.deloitte.com/bg/en/pages/ab…
Judge LEHMAN, case law, Ford.
🚩 Genovese: 1937 Lehman appointed Poletti to a vacancy as a Justice of the NY Supreme Court.
Started with Publix owner Crenshaw, Kacsmaryk, J6, 5th Circuit. Got William Breckwoldt, Dan Crenshaw's grandpa, #Deloitte, tort law, bankruptcy court, Tohmatsu.
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