Deutsche Bank Must Face Lawsuits Alleging It Enabled Ponzi Scheme

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

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

Miami-based…

Source: https://www.wsj.com/articles/deutsche-bank-must-face-lawsuits-alleging-it-enabled-ponzi-scheme-11648757787?mod=itp_wsj&yptr=yahoo