A group of investors is seeking to sway a judge in the Delaware Court of Chancery to block BankAtlantic’s proposed sale of $2.1 billion in loans and $3.3 billion in deposits to BB&T. The investors say the deal would allow BB&T to unlawfully “cherry-pick” from the Florida bank’s assets.
A Texas-based investment group, claiming it was scammed by Scott Rothstein, asked Tuesday for $172 million in damages from TD Bank for helping to prolong Florida’s largest Ponzi scheme by allegedly aiding the imprisoned former lawyer in his $1.2 billion settlement financing fraud.
As his Ponzi scheme unraveled, Scott Rothstein fabricated numerous Florida Bar grievances to explain to investors why his bank accounts were being frozen and how he could not repay them. Rothstein said in a deposition that he even enlisted a paralegal to pose as a Bar staffer in a call with a worried investor.
As his Ponzi scheme unraveled, Scott Rothstein fabricated numerous Florida Bar grievances to explain to investors why his bank accounts were being frozen and how he could not repay them.
A divided Florida Supreme Court on Wednesday suspended Miami attorney Jeremy Alters for allegedly misappropriating trust accounts to cover personal overdrafts, paying clients with money from other clients’ trust accounts and taking out loans of $14 million to cover client obligations.