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Royal Bank Unit Aided $123M ATM Ponzi Scheme, Suit Says

By Suevon Lee ( September 20, 2016, 5:47 PM EDT) -- Royal Bank of Canada and a Los Angeles-based banking subsidiary have been sued in California state court for negligence and other claims by dozens of individual investors alleging a bank officer enabled a $123 million Ponzi scheme through an ATM machine leaseback program operated by the in-receivership Nationwide Automated Systems Inc....

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