Court Vacates Judgment After 8th Circuit Bars Trustee From Ponzi Scheme Recovery

( December 5, 2024, 8:11 AM EST) -- MINNEAPOLIS — A federal court vacated its order granting judgment to the bankruptcy trustee for an entity that pleaded guilty to charges related to its involvement in a multibillion-dollar Ponzi scheme and granted judgment to the bank that allegedly aided in the Ponzi scheme after the Eighth Circuit U.S. Court of Appeals reversed the judgment, finding that the bank was entitled to the equitable defense of in pari delicto....

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