Banks Accused of Aiding Petters Ponzi
Source: Courthouse News
(CN) - J.P. Morgan Chase, Bank of America and other major aided and abetted Thomas Petters' $3.7 billion Ponzi scheme - the third-largest Ponzi in U.S. history - six hedge funds claim in a notice and summons in New York County Supreme Court.
Lead plaintiff Ritchie Capital Management and five other hedge funds claim they lost $177 million in the Ponzi. They put two dozen major banks on notice in the brief summons.
The 1-page notice lays out the Petters Ponzi scam, and the banks' alleged involvement in it.
Ritchie claims all of the defendants were part of a syndicate of lenders, "arranged by J.P. Morgan Securities, Inc., that agreed to a $250 million revolving credit facility for the Petters-owned and controlled Polaroid, [which] fraudulently conveyed $43 million between February 3 and February 18, 2008, all of which was proceeds of plaintiff's loans to Petters, after defendants knew that Petters and his entities, including Polaroid, were insolvent and/or not able to pay their debts."
Read more: http://www.courthousenews.com/2014/02/04/65068.htm
There are many shenanigans concerning Tom Petters Ponzi;
including the fact that Mitt Romney is benefiting from the federal corruption.
See my websites on the background issues - (here) (here) and (here)
As you can see in the pic above, Romney is connected (almost directly); to a whole lot of fraudsters and federal corrupt parties. That's Paul Traub below left with Marc Dreier and then Tom Petters by himself (arms folded)
Please Stay Tuned - MUCH More to come!
= new reply since forum marked as read
