BMO Harris Faces $24B Lawsuit Over Petters’ Ponzi Scheme

M&I Bank, now owned by BMO Harris Bank, faces a new lawsuit from Palm Beach Finance’s bankruptcy trustee, holding the bank responsible for helping convicted Ponzi scammer Tom Petters cheat investors out of $3.65 billion. The Chicago-based bank, however, disputes the lawsuit and vows to defend itself vigorously.
Tom Petters’ Ponzi scheme
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