Fraud
Silvergate Bank Aiding and Abetting Crypto Fraud Class Action
November 2022 exposed Sam Bankman-Fried’s fraud and embezzlement involving his cryptocurrency exchange FTX and cryptocurrency hedge fund Alameda Research. But how was he able to dsitribute funds among FTX, Alameda, and himself? This class action brings suit against Silvergate Bank, its parent Silvergate Capital Corporation, and CEO Alan J. Lane, for aiding and abetting the Read moreFraud
SBF, FTX Cryptocurrency Exchange and Hedge Fund Failure Class Action
This class action, unusually, names five individuals and no companies as defendants, most likely because the companies involved in the associated events appear to have failed. The complaint brings suit against Samuel Bankman-Fried (SBF) and four others involved in his FTX cryptocurrency exchange and Alameda Research hedge fund, from which billions of dollars appear to Read moreFraud
VBit Reneges on Bitcoin Mining Agreements Class Action
Bitcoin mining can be profitable because it creates more Bitcoin. This class action sues VBit Technologies Corp., VBit Mining, LLC, Advanced Mining Group, and a group of individuals which purported to perform Bitcoin mining operations for individuals for a price. Instead, the complaint alleges they engaged in breach of contract, conversion, and fraud, as well Read moreFraud
Prequel Prenatal Screening Test High Rate of False Positives Class Action
Myriad Genetics, Inc. offers a Prequel Prenatal Screen for pregnant women that purports to screen for chromosomal and genetic conditions that may affect the baby’s health. But the complaint for this class action alleges that the test is very inaccurate, with its indications of a genetic disorder being false as much as 85 percent of Read moreFraud
NatWest Markets Manipulation of Treasury Futures Markets by Spoofing Class Action
This class action accuses three companies of “unlawful and intentional manipulation of U.S. Treasury Futures contracts” and options on those contracts, as traded on US exchanges, including the Chicago Board of Trade (CBOT). The companies accused are NatWest Markets Securities, Inc., NatWest Markets, Plc, and NatWest Group, Plc (formerly RBS Securities, Inc., the Royal Bank Read moreSecurities, Fraud
Fleet Group Queens Hotel Project and EB-5 Program Investors Class Action
The EB-5 Immigrant Investor Program allows investors in US businesses to apply for permanent residence in the US for themselves and their immediate families under certain conditions. This class action is brought by a group of investors aspiring to qualify for that program who claim they were duped into investing in a fraudulent project for Read moreFraud
Wells Fargo Cooperation in Ponzi Scheme Class Action
Banks are required to follow Know Your Customer rules and to know enough about its customers’ businesses to recognize whether their transactions are reasonable for their purposes or possibly fraudulent. The complaint for this class action alleges Wells Fargo Bank, NA did not give sufficient scrutiny to customers Johanna Garcia and her companies MJ Capital Read moreFraud
McKinsey Helped Purdue Increase OxyContin Sales Alabama Class Action
This complaint is brought by a county and city in Alabama against McKinsey & Company, Inc. and two related McKinsey companies on the subject of opioids, citing “significantly increased costs, as well as a dramatic increase of social problems, including … drug abuse and the commission of criminal acts to obtain opioids.” The complaint says Read moreFraud
TD Bank Says Fraudulent Transactions Were Authorized Class Action
When a person perpetrates a fraud on a bank account, what is the limit of liability for the account holder? The complaint for this class action alleges that TD Bank, NA’s refusal to count a transaction as fraudulent violates both the Electronic Funds Transfer Act (EFTA) and the bank’s own agreements. Read moreFraud
Wyndham Vacation Resorts No-Consent Credit Accounts Class Action
How would you feel if you attended a timeshare presentation, then found out that the presenting company had opened a credit card account in your name, without your request or permission? The complaint for this class action alleges that Wyndham Vacation Resorts, Inc. and Comenity Capital Bank use consumers’ personal information to institute credit card Read moreFraud
