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The Victory: Robins Kaplan spouse Michael A. Collyard and his small staff gained the most important jury award in a Ponzi scheme case in Minnesota historical past when the jury rejected arguments via the 5 defense-side companies, as an alternative awarding $564 million in damages on behalf of consumer Douglas A. Kelley, the trustee for the BMO Litigation Agree with, which represents a bunch of traders.
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The Case: Kelley v. BMO Harris Financial institution arose out of one of the most greatest Ponzi schemes in U.S. historical past centering round a fancy machine of monetary transaction between accounts at M&I Financial institution—which in 2011 used to be got via BMO Harris Financial institution—leading to cash laundering of $74 billion via fraudster Tom Petters, who has already been sentenced to 50 years in jail.
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