The Frost Tower of Frost Bank in San Antonio, Texas. Credit: Frost Bank. $30M Civil RICO Suit Filed as Both Sides Accuse Frost Bank of Wrongdoing
Chemcraft Ltd., filing as a counter-plaintiff in a first amended petition submitted Oct. 19 in the Tarrant County 96th District Court, alleges Frost Bank entities—Frost Brokerage Services Inc. and Frost Investment Services LLC—participated in the unauthorized transfer of $9.95 million.
October 30, 2023 at 05:34 PM
5 minute read
Financial Services and Banking
Frost Bank and its related entities are the subject of a civil RICO lawsuit, alleging its officers assisted and then helped conceal the conversion of assets belonging to a South African company.
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