A federal judge has denied summary judgment to several banks accused in a $4 billion lawsuit of providing banking services that supported the Allen Stanford Ponzi scheme.

The banks—including Trustmark National Bank, Toronto-Dominion Bank (TD Bank), HSBC Bank, Independent Bank, and Societe Generale Private Banking (SG Suisse)—are accused of making fraudulent transfers under the Texas Uniform Fraudulent Transfer Act, conspiracy to commit fraud, and aiding and abetting fraud. Their case had been transferred to U.S. District Court for the Northern District of Texas as part of the ongoing Stanford multidistrict litigation proceedings, according to federal court records.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]